Fed’s Powell: We are strongly committed to lowering inflation

In his speech, Fed Chairman Powell said, “There would not have been such high inflation without Covid, we are strongly committed to reducing inflation.”

The highlights of the US Federal Reserve’s (Fed) Chairman Jerome Powell’s statement are as follows:

If it weren’t for covid, there wouldn’t be such high inflation.

Pandemic contributed to reduction in workforce size

We are strongly committed to lowering inflation

We just focused on our tasks

Good anchoring of inflation expectations is very important.

We will not be affected by political considerations

WE PROMOTE THE ECONOMY

We still stimulate the economy

The relationship between money supply and inflation is unstable.

Monetary policy rules are key in the Fed’s policy thinking

Widely accepted growth trend declining, difficult to include nominal income in targeting framework

We can achieve both tasks in the medium term

No decision on the central bank’s digital currency

The evaluation process will take some time.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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