×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Financial Markets | Infrastructure | Money | Federal Reserve Chairman Jerome Powell | inflation

Fed's Powell Pledges to Stop Inflation From Becoming 'Entrenched'

Jerome Powell
Federal Reserve Chairman Jerome Powell's prepared testimony before Congress shows that he will discuss actions the Fed is taking to lessen inflation in the U.S. in the face of ongoing supply chain disruptions. (Getty Images)

Monday, 10 January 2022 04:42 PM

Federal Reserve Chair Jerome Powell pledged "to prevent higher inflation from becoming entrenched" in comments prepared for delivery at a congressional hearing on Tuesday, where the high pace of price increases is likely to be a central topic.

Powell did not mention the U.S. central bank's plans to hike interest rates explicitly in brief opening remarks for his nomination hearing before the Senate Banking Committee for a second four-year term as head of the Fed.

But he noted that the economy was facing "persistent supply and demand imbalances" during the pandemic reopening, and that the resulting high inflation "exacts a toll," particularly on the poor.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
Federal Reserve Chair Jerome Powell pledged "to prevent higher inflation from becoming entrenched" in comments prepared for delivery at a congressional hearing on Tuesday, where the high pace of price increases is likely to be a central topic.
Federal Reserve Chairman Jerome Powell, inflation
105
2022-42-10
Monday, 10 January 2022 04:42 PM
Newsmax Media, Inc.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved