Fed Chairman Jerome Powell Speaking at the Senate hearing for his reappointment, he said Tuesday that the Fed right now needs to focus more on the inflation side than the employment side given that inflation is further away from the Fed’s target than employment.
Additional remarks:
“This year, in all likelihood, we will normalize the policy, including raising rates this year, and we may start the balance sheet liquidation later this year.”
“The supply-side restrictions have been very persistent, without seeing much progress on that.”
“We have to achieve price stability; I am confident that we will.”
“In all likelihood, this year he will normalize politics.”
“At some point, maybe later this year it will allow the balance sheet to shrink.”
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