Fed's Powell Pledges To Fight Inflation In Second Term

The pressures pushing prices to multi-decade highs are likely to last through the middle of the year, and the US central bank is ready to respond to this risk, but policymakers are committed to extending the economic expansion to promote employment, Federal Reserve chief Jerome Powell said Tuesday.

The world's largest economy is on a strong footing, and with inflation rising and employment recovering.

"The economy no longer needs or wants the very highly accommodative policy" provided by the Fed in response to the Covid-19 pandemic, Powell told lawmakers, underlining...