FOMC President Jerome Powell delivers his comments at the seminar of the International Monetary Fund (IMF) titled “Debate on the global economy”.
“The one-time increase in prices is different from persistent inflation.”
“By inflation, we mean persistent inflation that increases year after year after year.”
“We do not expect price increases due to supply shortages to be repeated year after year.”
“We see that the upward pressure on prices is likely to be temporary this year.”
“We have tools to deal with inflation if the need arises.”
“The traditional tool to deal with inflation is to raise rates.”
“We will be closely monitoring inflation expectations.”
The US Dollar Index It continues to push lower and was last seen shedding 0.45% on the day at 92.00.