February 23, 2021

Fed’s Powell downplays inflation fears, pledges to keep rates low

Washington (AFP) – Federal Reserve Chairman Jerome Powell attempted to tamp down rising inflation concerns, and again on Tuesday pledged to keep benchmark lending rates low until jobs recover and prices have risen consistently. The Covid-19 pandemic remains the key factor determining how quickly the world’s largest economy can recover, but Powell said vaccine rollouts offer hope things can return to normal quickly and the Fed has the tools to deal with price increases. With Congress moving towards approving President Joe Biden’s $1.9 trillion rescue plan, the central bank chief remained steadf…

source https://this.kiji.is/en/737009377682440192?c=648607265489716321

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