The chairman of the Fed, Jerome Powell, is testifying before the United States Senate Committee on Banking, Housing and Urban Affairs alongside US Secretary of the Treasury Janet Yellen.
“The more recent data shows high inflation pressures, rapid labor market improvement, heavy spending“.
“At this point, the economy is very strong, inflationary pressures are high.”
“It is appropriate to consider ending the purchase program reduction a few months earlier.”
“We will talk about accelerating the adjustment at the next Fed meeting.”
“We will know more about Ómicron in a week or 10 days.”
“Only then can we assess the impact on the economy.”
“For now Ómicron is a risk and is not included in the forecasts.”