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Powell: Fed Will Do Everything We Can To Support Economy For As Long As It Takes To Complete Recovery
Fed Chair Jerome Powell: Fed Will Do Everything We Can To Support Economy For As Long As It Takes To Complete Recovery
— LiveSquawk (@LiveSquawk) June 21, 2021
- Inflation Has Increased Notably In Recent Months
- As Transitory Supply Effects Abate, Inflation Expected To Drop Back Toward 2%
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Fed's Powell:
— DailyFX Team Live (@DailyFXTeam) June 21, 2021
- Inflation is projected to return to the Fed's target range
- Unemployment rose in May, but job growth is expected to pick up
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Fed's Powell:
— DailyFX Team Live (@DailyFXTeam) June 21, 2021
- This year's growth is on track to be the fastest in decades
- Job growth should accelerate in the next few months
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The Federal Reserve's Response to the Coronavirus Pandemic
Chairman Clyburn, Ranking Member Scalise, and other members of the Select Subcommittee, thank you for the opportunity to update you on our ongoing measures to address the hardship wrought by the pandemic. Since we last met, the economy has shown sustained improvement. Widespread vaccinations have joined unprecedented monetary and fiscal policy actions in providing strong support to the recovery. Indicators of economic activity and employment have continued to strengthen, and real GDP this year appears to be on track to post its fastest rate of increase in decades. Much of this rapid growth reflects the continued ... (full story)
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