Powell Says Fed Can Avert Recession But Task Getting Tougher - BitcoinEthereumNews.com
KabuhayanSinabi ni Powell na Maaaring Iwasan ng Fed ang Recession Ngunit Lalong Hihigpit ang Gawain06 / 29 / 2022Balita ng Ethereum ng Bitcoin (Bloomberg) — Federal Reserve Chair Jerome Powell said the US economy is in “strong shape” and the central bank can reduce inflation to 2% while maintaining a solid labor market, even though that task has become more challenging in recent months. Karamihan Basahin mula sa Bloomberg He also vowed to ensure rapid price increases dont become entrenched, saying that “we will not allow a transition from a low inflation environment to a high inflation environment.” “We hope that growth will remain positive,” Powell said Wednesday during a panel discussion at the European Central Banks anual policy forum in Sintra, Portugal. Household and business finances are also in solid shape, and “overall the US economy is well positioned to withstand tighter monetary policy.” Read Bloombergs TOPLive blog on the ECB conference panel Raising interest rates without sparking a recession “is our aim and we believe there are pathways to achieve that,” Powell said, reiterating comments hes made this month. The Fed on June 15 raised interest rates by 75 basis points, the biggest increase in three decades. Powell has signaled that another move of