Alexander Lipton is the CTO of Sila, a visiting professor and Dean’s Fellow at the Jerusalem Business School of the Hebrew University

The Federal Reserve Chairman Jerome Powell gave a widely watched speech  entitled “New Economic Challenges and the Fed’s Monetary Policy Review at the Jackson Hole Economic Symposium. In his remarks, Powell announced the Fed would allow inflation to run above its long-term 2% level. More immediately, the Fed will continue with its policy of keeping the Fed funds rate at almost zero and buying Treasury bonds to the tune of $80 billion a month.