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Powell: Higher inflation temporary, Fed will be 'patient'

Washington county Jerome city Powell, county Jerome pandemic economy patient
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WASHINGTON – Federal Reserve Chair Jerome Powell suggested Thursday that inflation will pick up in the coming months but that it would likely prove temporary and not enough for the Fed to alter its record-low interest rate policies.

Powell also said the outlook for the economy has improved after three months of weak job growth. But he cautioned that the economy and the job market are still far from fully recovered and that full employment would not be achieved this year.

The chairman offered no signal that the Fed might respond soon to rising interest rates on Treasury securities by altering its bond-buying policies. “We think our current policy stance is appropriate,” Powell said.

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United States
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United Kingdom
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Russia
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Deaths: 237 619
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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