Federal Reserve Board Chair Jerome Powell / PHOTO: Associated Press (Headline USA) Federal Reserve Chairman Jerome Powell is preparing to tell Congress that the current spike in U.S. inflation has proven to be larger and more long-lasting than expected.
But, in remarks prepared for delivery Tuesday, he says that if inflation does not abate, the Fed is ready to use its tools to lower the pressure on prices.
Powell is due to appear Tuesday with Treasury Secretary Janet Yellen at an oversight hearing on the government’s massive spending programs passed to deal with the COVID pandemic. The Fed made Powell’s remarks […]
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