“The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy,' Federal Reserve Chairman Jerome Powell said while warning lawmakers that it may take time for Americans to see further relief from rising prices.
With prices continuing to rise at a yearly pace of 6.4%,, Powell warned that it may take time for Americans to see further relief.
“The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy,” Powell told the Senate Banking Committee, referring to the central bank’s target inflation level.Win McNamee / Getty Images Speaking in the first of his two days of semiannual testimony to Congress on interest-rate policy, Powell said the Fed could again increase the size of its interest rate hikes if it doesn’t see stronger progress on lowering inflation in the months ahead.imposed a smaller, quarter-point increaseReturning to beefed-up rate hikes could keep consumer-facing interest rates — on everything from mortgages and credit cards to bank deposits — higher for longer.
The Fed has already been raising rates at the fastest clip since the 1980s. But while inflation has come down from a
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Jerome Powell Speech Preview: Fed Chair testifies in US CongressJerome Powell, Chairman of the Federal Reserve System, will testify on March 7 in the US Congress, in front of the Senate Committe on Banking, Housing
Leer más »
Senate will grill Jerome Powell over Fed efforts to tame inflationFederal Reserve Chair Jerome Powell’s first appearance before Congress in nine months coincides with recent signs that the economy remains resilient and inflation still stubbornly high.
Leer más »
WATCH LIVE: Fed Chairman Jerome Powell addresses Senate amid inflation and recession concernsThe Senate Committee on Banking, Housing, and Urban Affairs is set to receive the Semiannual Monetary Policy Report to Congress from Federal Reserve Chairman Jerome Powell.
Leer más »
Fed chair Jerome Powell opens the door to faster interest rate hikesJUST IN: The Fed will likely raise interest rates to a higher peak than previously thought and may consider ratcheting back up the pace of hikes in an effort to cool down a resilient economy, chair Jerome Powell will tell Congress today.
Leer más »
Fed’s Jerome Powell says interest rates likely need to raise more than expectedThe remarks were his first since inflation unexpectedly jumped in January and the government reported an unusually large increase in payroll jobs for that month.
Leer más »
FX Market Rundown: RBA, GBP and Fed Chair Jerome PowellFX Market Rundown: RBA, GBP and Fed Chair Jerome Powell.The Tuesday Market Oulook with Warren Venketas gives a report on the latest changes in the financial m...
Leer más »