Jul 14 Watch 6:30 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… Continue watching
Jul 14 WATCH: Fed Chair Powell says inflation, though elevated, will likely moderate By Christopher Rugaber, Associated Press 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."… Continue reading
Jun 22 WATCH: Federal Reserve Chair Powell says high inflation temporary, will 'wane' By Christopher Rugaber, Associated Press 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. Continue reading
Apr 08 U.S. nears full reopening to 'different economy,' says Fed Chair Powell By Christopher Rugaber, Associated Press 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. Continue reading
Mar 23 WATCH: Yellen, Powell say more needed to promote pandemic recovery By Martin Crutsinger, Associated Press 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. Continue reading
Mar 04 Chairman Powell says higher inflation is temporary, fed will be 'patient' By Christopher Rugaber, Associated Press 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. Continue reading
Feb 24 Chairman Powell says Federal Reserve is in no hurry to raise interest rates By Martin Crutsinger, Associated Press 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. Continue reading
Feb 23 Fed Chair Powell says recovery incomplete, higher inflation unlikely By Christopher Rugaber, Associated Press 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. Continue reading
Feb 10 Powell stresses commitment to full employment and low rates By Christopher Rugaber, Associated Press Powell spent little time on inflation in prepared remarks for a webcast to the Economic Club of New York. Continue reading
Jan 27 WATCH: Fed chair Jerome Powell holds press conference on economy By Associated Press The Federal Reserve pledged on Wednesday to keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic. Continue reading