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turbinetree

(24,632 posts)
Wed Apr 28, 2021, 06:09 PM Apr 2021

Fed's Powell stomps on inflation fears, pledges continued stimulus

By Agence France-Presse
Published April 28, 2021

Temporary price jumps will not spook the Federal Reserve into pulling back on the stimulus it has pumped into the US economy during the Covid-19 pandemic, the central bank's chair Jerome Powell said on Wednesday.

He highlighted the commitment of the policy-setting Federal Open Market Committee (FOMC) to keep the benchmark lending rate near zero, where it has been since the start of the crisis, and continue its massive bond buying program until employment recovers and inflation exceeds the two percent threshold "for some time."

Responding to concerns from notable economists and some investors that policymakers could let things get out of control, Powell snapped back: "We know our job."

https://www.rawstory.com/feds-powell-stomps-on-inflation-fears-pledges-continued-stimulus/

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