BOE's Bailey: Task is to return to low inflation

tweet at 9:10am: ECB'S LAGARDE SAYS UNLIKELY TO GO BACK TO ENVIRONMENT OF LOW INFLATION tweet at 9:11am: ECB'S PRESIDENT LAGARDE: INFLATION EXPECTATIONS ARE MUCH HIGHER THAN BEFORE. tweet at 9:21am: ECB'S PRESIDENT LAGARDE: HOPE FISCAL SUPPORT IS TARGETED, TEMPORARY. tweet at 9:21am: ECB'S PRESIDENT LAGARDE: I HOPE FISCAL POLICY WILL AIM TO SUPPORT THE MOST VULNERABLE, NOT BROAD SEGMENTS OF POPULATION. tweet at 9:19am: LAGARDE: RECOVERY IS VERY MUCH UNDER WAY, DRIVEN BY SERVICES

tweet at 9:10am: FED'S POWELL: JOB IS TO FIND PRICE STABILITY EVEN DURING NEW FORCES OF INFLATION. tweet at 9:11am: FED'S POWELL: SINCE THE PANDEMIC, FORCES DRIVING THE ECONOMY ARE VERY DIFFERENT. tweet at 9:11am: *POWELL: DON'T KNOW YET IF WE'LL RETURN TO PRE-PANDEMIC ECONOMY tweet at 9:15am: FED'S POWELL: THE REVERSAL OF GLOBALISATION COULD MEAN LOWER GROWTH IN PLACES. tweet at 9:15am: POWELL SAYS HOPE GROWTH CAN REMAIN POSITIVE

tweet at 9:34am: Fed's Powell: Markets Have Been Well Aligned With Fed, Notes Market Pricing Is ‘Pretty Close’ To Dot Plot tweet at 9:35am: *POWELL: SHAPE OF YIELD CURVE NOT A TOP-LINE WORRY RIGHT NOW *POWELL: FOCUSED ON GETTING INFLATION UNDER CONTROL tweet at 9:40am: POWELL SAYS IS THERE A RISK WE WOULD GO TOO FAR? YES. NOT THE BIGGEST RISK POWELL SAYS BIGGER RISK IS FAILING TO RESTORE PRICE STABILITY tweet at 9:43am: FED'S POWELL: IF DEANCHORING IS OBSERVED, THE FED HAS FALLEN BEHIND THE CURVE. tweet at 9:49am: This sounds like Powell is trying to speak directly to the BTDers Fed put when inflation < 2% is way different than what we have now https://t.co/RWlLkGKwQS