The Federal Reserve has begun to shift its attention from solely focusing on inflation to also addressing unemployment, the Wall Street Journal reported. For two years, the Federal Reserve primarily focused on inflation, consistently raising interest rates even though it knew it was potentially fueling a recession. This week, it shifted its focus, indicating a commitment to addressing both of its mandates, inflation and unemployment. Fed Chair Jerome Powell confirmed this change in approach at the central bank’s meeting on Wednesday.

While the Federal Reserve is still unsatisfied with current inflation levels, which Powell stated are still excessive, it is becoming more likely to cut rates than raise them at their upcoming meetings. Though inflation has dropped more quickly than anticipated, the Federal Reserve predicts that it will return to its 2% target shortly. The priority for the coming year will be to lower rates sufficiently to avoid a recession. Powell and his colleagues also surprised analysts by publishing their projections, which suggest the federal-funds rate target could fall between 4.5% and 4.75% by the end of 2024, 0.75 percentage point below today’s figures and 0.5 percentage points less than their September forecasts.

One related service helping people with the unemployment segment of this shift is EDDCaller.com. The program helps individuals to connect with representatives from unemployment, paid family leave, and disability offices via phone. One of the glowing features is how quickly it gets you through to a live person at EDD, making it a valuable tool during this climate of shifting financial policies.