Jerome Powell, president of the United States Federal Reserve
Fed, Powell leaves written testimony ahead of confirmation hearing before the Senate Banking Committee
There Federal Reserve americana will use all of its available tools for support growth of the market and avoid that higher inflation takes root. To “promise” is the president of the US central bank Jerome Powell. “The economy quickly gained strength despite the pandemic ongoing, giving rise to persistent imbalances e bottlenecks of supply and demand, and therefore to ahigh inflation“, he said Powell in written testimony prepared for delivery at his confirmation hearing before the Senate Banking Committee scheduled for today.
“We know the high inflation it imposes a toll, particularly for those who are less able to bear the higher costs of essential items such as food, shelter and transportation, “he said. Powell, adding that the central bank is “strongly committed” to achieving its statutory goals of maximum occupancy and price stability. “We will use our tools to support the economy and a strong labor market and to prevent higher inflation from taking root,” he said. Powell.
The president of the United States Joe Biden announced in November his intention to nominate Powell for a second term like Fed chairman and to appoint the Fed Governor Lael Brainard as vice president. L’consumer price index of the United States increased by 6.8% in the 12-month period ending November, the fastest annual pace in nearly 40 years, according to the U.S. Department of Labor.
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