Powell Says Supply-Chain Bottlenecks Could Lead to Somewhat Longer Interval of High Inflation

Posted on AllSides September 29th, 2021
From The Center

Federal Reserve Chairman Jerome Powell said that a recent spell of higher inflation might last longer than central bank officials had anticipated, but he repeated his expectation that the price surge should eventually fade during a panel discussion on Wednesday.

Rising vaccination rates and nearly $2.8 trillion in federal spending approved since December have produced a recovery like none in recent memory. Inflation has soared this year, with so-called core prices that exclude volatile food and energy categories up 3.6% in July from a year earlier, using the Fed’s preferred gauge. The gains largely reflect...

Read full story
Some content from this outlet may be limited or behind a paywall.
https://www.wsj.com/articles/powell-says-supply-chain-bottlenecks-could-lead-to-somewhat-longer-interval-of-high-inflation-11632934764

More News about Banking and Finance from the Left, Center and Right

From the Left

From the Center

From the Right