Federal Reserve Chairman Jerome Powell, on the second day of his semi-annual testimony before the US Congress, said rising energy prices will spill over into the US economy, and subsequently there will be upward pressure on the inflation for a while. Reuters reported.
Additional statements:
“We could see people holding back spending in the United States.”
“We have to be alert and agile in the Fed’s decision making.”
“This is a great job market for workers.”
“The problem we face is high inflation.”
“Restoring price stability is the most important thing we can do.”
“It will be appropriate to continue rate increases throughout the year.”
“In this very sensitive time, it is appropriate to be careful.”
“We don’t want to add to the uncertainty.”
Source: Fx Street
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