Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says

Seeking Alpha2022-09-08

"We need to act now, forthrightly and strong" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...

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Comments

  • Jawslea
    2022-09-09
    Jawslea
    Can raise salary to fight inflation?  Will be a vicious cycle.  Shld give only to needy groups of people to enable them to afford the essentials like home, food & medical.
  • PearlynCSY
    2022-09-09
    PearlynCSY
    Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’Federal Reserve Chair Jerome Powell said Thursday he is “strongly committed” to fighting inflation.The Fed has raised benchmark interest rates four times this year, with the fed funds rate now set in a range between 2.25%-2.50%.This was the Fed chief’s last publicly scheduled appearance before the central bank’s Sept. 20-21 meeting.“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”The event was Powell’s last scheduled public appearance before the
  • K74
    2022-09-09
    K74
    React
  • robot1234
    2022-09-09
    robot1234
    Federal Reserve chief steals ECB’s rate hike thunder. THE euro slid on Thursday against the dollar despite a record interest rate hike by the European Central Bank as Federal Reserve chief Jerome Powell also signaled a tough approach against inflation.Meanwhile, the pound remained close to a 37-year low against the dollar that was struck Wednesday, as new British Prime Minister Liz Truss announced that she will freeze domestic fuel bills for two years to help ease the burden of a UK cost-of-living crisis. The ECB warned on Thursday that inflation was “far too high” and likely to stay above target for “an extended period” as it announced its record 0.75 percentage point hike.ECB chief Christine Lagarde made clear interest rates were far from where they need be to bring inflation down.“We ac
    • robot1234: 

      Ray Dalio’s Bridgewater predicts another 20% to 25% drop for the markets


    • robot1234: 
      Fed Governor Christopher Waller on Friday made comments indicating he could back another 0.75 percentage point interest rate increase later this month.
    • robot1234: 
      Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach
    • Newcslee: 
      ya
    • HeyU: 
      Ok
  • SSVC
    2022-09-09
    SSVC
    K
  • andrew123
    2022-09-09
    andrew123
    Like 
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