The Fed will no longer have a firm target of 2.0% on inflation. Now, the Fed will seek inflation that averages 2.0% over time (they did not give any more details). It is called Flexible Average Inflation Targeting (FAIT). It implies the Fed will allow the economy/inflation to run "hot" for a while before they believe they need to make a preemptive move to raise interest rates to quell inflationary pressures. This should allow the unemployment rate to fall further.
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update