Fed’s Powell Rattles Markets With Retire Transitory Inflation and Speed Up Taper Comments

Federal Reserve System Chairman Jerome Powell took a decidedly hawkish tone today which sent US stock markets lower. Fed Chair Powell said it’s a good time to retire the word “transitory” and suggests its appropriate to taper more quickly. He was answering questions in today’s testimony at the joint Senate hearing with Treasury Secretary Janet Yellen before Senate Banking on Coronavirus and the CARES Act. The Fed Chair moved his bias toward the hawkish side which surprised many with the new … Continue reading “Fed’s Powell Rattles Markets With Retire Transitory Inflation and Speed Up Taper Comments”

Fed Chair Powell says Factors Pushing Inflation Upward Will Linger Into Next Year

Federal Reserve System Chairman Jerome Powel released his prepared testimony ahead of tomorrow’s 10:00 a.m. Senate hearing with Treasury Secretary Janet Yellen before Senate Banking on Coronavirus and the CARES Act. Headlines via Reuters Factors pushing inflation upward will linger well into next year  Inflation running well above 2% goal, pushed up by pandemic-related supply and demand imbalances Continue to expect inflation will move down significantly over the next year We will use our tools to support economy and strong … Continue reading “Fed Chair Powell says Factors Pushing Inflation Upward Will Linger Into Next Year”