Federalreserve
According to him, in the longer term, the consequences of the Middle East conflict for the American economy and their scale are unclear.
Inflation has already accelerated and is at an elevated level, including due to a jump in global energy prices, he said.
At the same time, "duty" inflation will slow down in the next two quarters, Powell expects. The impact of duties will reach a peak soon, he noted.
"It's time for this to happen," the Fed chairman said. "We're really looking forward to that in the next two quarters."
Powell also pointed to weakening demand for labor, despite the fact that the number of vacancies, the volume of hiring and staff reductions, and the growth of nominal salaries are almost unchanged.
The Fed kept the federal funds rate in the range of 3.5-3.75% per annum following a two-day meeting that ended on Wednesday.
"We consider the current approach to monetary policy to be appropriate," Powell said at a press conference.
At the same time, the number of the Fed officials who preferred relatively neutral language in the statement following the meeting increased, and the debate was lively, he added.
source: cnn.com
Inflation has already accelerated and is at an elevated level, including due to a jump in global energy prices, he said.
At the same time, "duty" inflation will slow down in the next two quarters, Powell expects. The impact of duties will reach a peak soon, he noted.
"It's time for this to happen," the Fed chairman said. "We're really looking forward to that in the next two quarters."
Powell also pointed to weakening demand for labor, despite the fact that the number of vacancies, the volume of hiring and staff reductions, and the growth of nominal salaries are almost unchanged.
The Fed kept the federal funds rate in the range of 3.5-3.75% per annum following a two-day meeting that ended on Wednesday.
"We consider the current approach to monetary policy to be appropriate," Powell said at a press conference.
At the same time, the number of the Fed officials who preferred relatively neutral language in the statement following the meeting increased, and the debate was lively, he added.
source: cnn.com