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Powell stresses commitment to full employment and low rates

New York Washington county Jerome city Powell, county Jerome president pandemic vaccine
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WASHINGTON – Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed's commitment to reducing unemployment to multi-decade lows, where it stood before the pandemic, while signaling little concern about the risk of potentially high inflation or financial market instability.

Powell stressed in prepared remarks for a webcast to the Economic Club of New York that the job market was far from fully recovered and that the Fed isn't considering any increase in its benchmark short-term interest rate from its current level near zero.

He did not refer to the surging stock market or to recent signs of market froth, like the explosive volatility in the prices of GameStop and other stocks targeted by ordinary day traders. “Despite the

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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