No Result
View All Result
Today Minutes
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food
  • Subscribe Us
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food
  • Subscribe Us
No Result
View All Result
Today Minutes
No Result
View All Result
Home business

Powell: Fed must convince public it can tame inflation

by todayminutes
June 24, 2022
0

Federal Reserve Chairman Jerome Powell speaks to the Senate Banking, Housing and Urban Affairs Committee, as he presents the Monetary Policy Report to the committee on Capitol Hill, Wednesday, June 22, 2022, in Washington. (AP Photo/Manuel Balce Ceneta)

As if their job weren’t hard enough at a time of raging inflation, Chair Jerome Powell and his Federal Reserve colleagues have to do more these days than decide just how much to raise interest rates without triggering a recession.

They also have a sales job on their hands: Convincing the public that they will succeed in reducing inflation — now at 8.6%, a four decade high — to the central bank’s goal of 2% a year.

And on Thursday, Powell told Congress that Americans do seem reassured, at least for now: Measures of consumer sentiment show that people generally think inflation will eventually subside.

“People do expect inflation to come back down to levels that are consistent with our price stability mandate,” Powell told the House Financial Services Committee on the second of two days of testimony as part of the Fed’s semiannual report to Congress. “But we haven’t had a test like this. We haven’t had an extended period of high inflation for a long time. So it’s not a comfortable place to be.″

Read more

todayminutes

todayminutes

Next Post

EXPLAINER: Why Sri Lanka’s economy collapsed and what’s next

No Result
View All Result

Categories

  • AirLines (1)
  • business (266)
  • Celebrity (71)
  • climate (1)
  • Culture (47)
  • Economy (13)
  • Electric Vehicles (3)
  • Entertainment (356)
  • Fashion (74)
  • finance (24)
  • Food (42)
  • Health (45)
  • Lifestyle (34)
  • Music (84)
  • Politics (332)
  • Science (23)
  • Sports (363)
  • Technology (32)
  • Travel (78)
  • Uncategorized (9)
  • Weather (2)
  • World (83)

Recent.

Joe Biden under scrutiny as House Republicans gear up probes

The Future of NFL and Sports Streaming?

Your 2023 Closet Will Be Chicer With These Items

© 2022 Today Minutes All Rights Reserved

  • Contact Us
  • Privacy Policy
  • Terms Of Service
  • Unsubscribe
No Result
View All Result
  • Home
  • Fashion
  • Celebrity
  • Culture
  • Lifestyle
  • Travel
  • Food
  • Subscribe Us

© 2022 Today Minutes All Rights Reserved