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Powell's high-stakes bet: More jobs but only mild inflation

Washington county Jerome city Powell, county Jerome president economy prevention
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WASHINGTON – With employers hiring, consumers spending and companies raising some prices, Federal Reserve Chair Jerome Powell is embarking on a high-stakes gamble.

Powell's bet is that the Fed can keep rates ultra-low even as the U.S. economic recovery kicks into high gear — and that it won't have to quickly raise rates to stop runaway inflation.

It's just the kind of gamble that in the past led some of Powell's predecessors to miscalculate and inadvertently derail the economy.

Powell and the rest of the Fed's policymaking committee plan to keep rates near zero until nearly everyone who wants a job has one, even after inflation has crept above their 2% annual target level.

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United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
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Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
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United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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