Washington county Jerome city Powell, county Jerome pandemic Washington county Jerome city Powell, county Jerome

Chairman Powell: Fed is in no hurry to raise interest rates

Reading now: 680
www.clickorlando.com

WASHINGTON – Federal Reserve Chairman Jerome Powell told Congress on Wednesday that the central bank will not begin raising interest rates until it believes it has reached its goals on maximum employment and inflation.

Powell also warned that many who had worked in industries hardest hit by the pandemic and ensuing recession will likely need to find different jobs.

As he did before the Senate Banking Committee on Tuesday, Powell told the House Financial Services Committee that the Fed was in no hurry to raise benchmark short-term interest rates or to begin trimming its $120 billion in monthly bond payments used to put downward pressure on longer-term rates.

Read more on clickorlando.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA