 "Jerome Powell")
The U.S. economy continues to make progress towards the Federal Reserve's benchmarks for reducing its pandemic-era emergency programs, Fed Chair Jerome Powell said on Friday in remarks that defended the view current high inflation will likely pass and stopped short of signaling the timing for any reduction in the central bank's asset purchases beyond "this year."
In a speech to the annual Jackson Hole economic conference, Powell indicated the Fed will remain cautious in any eventual decision to raise interest rates as it tries to nurse the economy to full employment, saying he wants to avoid chasing "transitory" inflation and
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
