Tag: interest rates

Fed Chair Powell: ‘We’d Welcome Higher Inflation’
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Fed Chair Powell: ‘We’d Welcome Higher Inflation’

U.S. Federal Reserve officials voted Wednesday to keep monetary conditions at historically loose levels while waiting for the economy to heal.Chairman Jerome Powell said he doesn’t want to put a timeline on tapering the U.S. central bank’s $120 billion-a-month in asset purchases.“In terms of tapering it’s just premature,” Powell said. “We said we’d want to see substantial, further progress towards our goals before we modify our asset purchase guidance. It’s just too early to be talking about dates. We need to see actual progress.”A little bit of inflation in 2021 would be welcome news for the Federal Reserve if it means fewer jobs are permanently lost, Powell added.“I’m much more worried about falling short of a complete recovery and losing people’s careers and lives...