When the Fed chairman was asked, Jerome Powell on the issue of inflation in an IMF panel, noted that the Fed is no longer counting on inflation going down againas these supply-side easing expectations have been disappointed in the past.
Powell noted that, of course, it would be great if supply-side pressures eased and inflation came back down, but he emphasized the Fed’s focus on getting interest rates back to neutral “quickly” to be prepared again. anyway.
Featured Statements
“We have a job to do regarding demand.”
There are more job offers than unemployed people.
“We have an imbalance between supply and demand in the US labor market and elsewhere.”
“We have seen certain adjustments in financial conditions.”
Source: Fx Street
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