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Supply ‘bottlenecks’ are driving a consumer price surge. Here’s how that affects inflation
The Consumer Price Index rose 5.4% last month compared to a year ago — the biggest monthly jump since 2008. During testimony on Capitol Hill Wednesday, Federal Reserve Chairman Jerome Powell gave his assessment about the price surge and risks…
WATCH: Fed Chair Powell says inflation, though elevated, will likely moderate
Federal Reserve Chair Jerome Powell said Wednesday that inflation, which has been surging as the recovery strengthens, “will likely remain elevated in coming months" before “moderating."…
WATCH: Federal Reserve Chair Powell says high inflation temporary, will ‘wane’
Federal Reserve Chair Jerome Powell on Tuesday responded to concerns from Republican lawmakers about spiking inflation by reiterating his view that current price increases will likely prove temporary.
U.S. nears full reopening to ‘different economy,’ says Fed Chair Powell
The U.S. economy, boosted by quickening vaccinations and signs of rapid hiring, is headed toward a strong recovery, Federal Reserve Chair Jerome Powell said Thursday.
The two officials struck upbeat notes on the future of the economy in their prepared testimony Tuesday before the House Financial Services Committee while cautioning that the economy still needs help.
Federal Reserve Chair Jerome Powell said Thursday that inflation will likely pick up in the coming months but the increase will be temporary, and won’t be enough for the Fed to alter its low-interest rate policies.
Powell also warned Wednesday that many who had worked in industries hardest hit by the pandemic and ensuing recession will likely need to find different jobs.
Federal Reserve Chair Jerome Powell underscored the U.S. economy's ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon.
Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York.
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