Powell Says Fed to Ensure Inflation Doesn’t Take Root in Economy
“We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” Powell said.
“We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” Powell said.
Selloff that raced through the Treasury market this past week has investors bracing for further losses that would push benchmark 10yr yield toward 2%.
Economists from both sides of the political spectrum argued that the Fed is behind the curve in the battle to contain an outburst of inflation.
Jerome Powell is set to be grilled on the Federal Reserve’s sharpest shift toward monetary tightening in decades at a hearing Tuesday.
Rapid progress in the U.S. labor market and hawkish signals in minutes from Dec. suggest faster normalization, Goldman’s Jan Hatzius said.
As 2021 draws to a close, Sen. Elizabeth Warren (D-Mass.) has launched a Twitter attack against SpaceX and Tesla CEO Elon Musk.
Federal Reserve officials said a strengthening economy and higher inflation could lead to earlier and faster interest-rate increases.