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