Price Stability

Inflation

Powell: Fed aims to avoid recession but says it’s possible – Associated Press

Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the Senate Banking Committee, Powell faced skeptical questions from members of both parties about

Inflation

Powell says Fed will hike further and faster if necessary

Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides this would be necessary to slow rampaging inflation. Powell’s message was more hawkish than his comments were after last week’s Fed meeting, when officials raised

Federal Reserve

Biden to keep Powell as Fed chair, Brainard gets vice chair

President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed’s ultra-low rate policies helped bolster confidence and revitalize the job market. Biden also said he would nominate as vice chair Lael

Exit mobile version