Fed Chair Jerome Powell will acknowledge the impact that surging inflation has had on ordinary Americans during his confirmation hearing.
will acknowledge the impact that surging inflation has had on ordinary Americans during his confirmation hearing before the Senate Banking Committee on Tuesday morning.
“We will use our tools to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched,” he adds. faster than expected in the coming months due to a tight labor market and rising inflation. The Fed is set to dial back unprecedented measures meant to prop up the US economy during the pandemic.
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