Powell warns against inflation becoming 'entrenched'

Speech to the Senate Banking Committee

clock • 1 min read
Federal Reserve chair Jerome Powell
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Federal Reserve chair Jerome Powell

Federal Reserve chair Jerome Powell warned yesterday (11 January) of the potential for continued high inflation to hurt the American economy, adding that the Fed is prepared to start tightening monetary policy.

In a speech to the Senate Banking Committee, the Fed chair said that the central bank was determined not to allow inflation to become "entrenched," and said that "the economy no longer or wants the very...

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