US Federal Reserve sidelines inflation focus to build jobs as pandemic crunches economy

The US Federal Reserve will temporarily sideline its normal focus of targeting inflation to focus on creating jobs for millions of Americans cast out of work over the past six months. 

Investors have welcomed the news, assured that interest are now certain to stay close to zero for years. 

Perpetual head of investment strategy Matt Sherwood tells me Australia faces major challenges of high debt levels and a gradual housing correction.