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Good morning from the newsroom of the Financial Times.

Today is Monday, December 2nd, and this is your FT news briefing.

The Federal Reserve is considering a new rule that would bring big changes to the way it

carries out interest rate policy.

UK politicians traded verbal blows on Sunday following the tragedy at London Bridge.

And as the new EU leadership takes office this week, its ambitious plans are expected to be

overshadowed by a fight on the budget.

Plus, we'll look at what policy makers in Europe are doing to reinvigorate its industrial policy and fight back against the U.S. and China.

I'm Amy Keen and here's the news you need to start your day.

The Federal Reserve has a dual mandate from the U.S. Congress, that is to set monetary policy

that encourages maximum employment and stable prices.

It's tried to deliver on the stable price objective

by keeping an inflation target of 2%.

But even as US unemployment has dropped to 50-year lows, prices aren't hitting the Fed's target.

And so now the Central Bank is considering introducing a new rule that would let inflation run

above this 2% target.

Sources told the FT that when the Fed misses its inflation target,

it would temporarily raise that target to make up for lost inflation.

This so-called make-up strategy is one tool policymakers are considering before the next economic downturn takes hold.

With the UK general election less than two weeks away, Friday's London Bridge

...