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Friday, December 2, 2022

Fed Chair Powell retires ‘transitory’ inflation view | FX Street

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While speaking in front of a Congressional committee, chair of the Federal Reserve, Jerome Powell said that it is time to retire the term “transitory” when talking about inflation within the US economy.

This is an important development given the Fed’s recent reluctance to acknowledge that the rise in prices seems to be here to stay.

Powell also hinted that the Fed may speed the end of tapering efforts and increase interest rates soon.

Source: https://www.fxstreet.com/analysis/fed-chair-powell-retires-transitory-inflation-view-202112011148

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