Every five years the Federal Reserve reconsiders its framework for monetary policy. This time it will have to consider lessons from the pandemic and an uncertain future.

The Fed for now has said it would stay on the sidelines, with interest rates held steady in the current 4.25% to 4.5% range until those questions get resolved

Recent economic trends point to the possibility that the Federal Reserve will have to grapple with sudden shocks to the supply of goods and commodities in the coming years.