U.S. Federal Reserve officials feel they need to reconsider the key elements around both jobs and inflation in their current approach to monetary policy, given the inflation experience of the last few years and the possibility that supply shocks and the associated price increases may become more frequent in the years ahead,

Instead of interest rates, Powell may talk about the Fed’s review of its monetary policy framework—how it balances employment and price stability.

Federal Reserve Chair Jerome Powell on Thursday discussed the Fed's framework review, a twice-a-decade look at the central bank's monetary-policy strategy. He said the Fed was in the process of making