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  "notes": "The chart shows a significant spike in central bank balance sheets post-2010, contextualizing the need for policy innovation like FAIT.",
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      "text": "The Fed's shift to FAIT (Flexible Average Inflation Targeting): \"the Committee seeks to achieve inflation that averages 2 percent over time, and therefore judges that, following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.\"",
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      "text": "The Fed's shift to FAIT (Flexible Average Inflation Targeting):",
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      "text": "the Committee seeks to achieve inflation that averages 2 percent over time, and therefore judges that, following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.",
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      "text": "“the Committee seeks to achieve inflation that averages 2 percent over time, and therefore judges that, following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.” — US Federal Reserve, Statement on Longer-Run Goals and Monetary Policy Strategy",
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      "text": "Source: A. Haldane, Bank of England.",
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