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Added on the 28/07/2021 20:57:47 - Copyright : AFPTV - First images
"My colleagues and I are acutely aware that high inflation imposes significant hardship as it erodes purchasing power," US Federal Reserve Chair Jerome Powell says in Washington. SOUNDBITE
The Federal Reserve will need "substantially more evidence" to be confident that inflation is on a sustained downward path, says Federal Reserve Chair Jerome Powell. SOUNDBITE
Federal Reserve Chair Jerome Powell says US spending and production data "has softened" and consumer spending "slowed significantly", as the central bank decided to again raise the benchmark interest rate by 75 basis points to tame spiraling price pressures. SOUNDBITE
US Federal Reserve Chair Jerome Powell says it is "essential" to bring down inflation for the US to have "sustained period of strong labor market conditions that benefit all." The Federal Reserve on Wednesday raised the benchmark lending rate by a half percentage point in its ongoing effort to contain the highest inflation in four decades. SOUNDBITE
Former chair of the US Federal Reserve Janet Yellen is on the same page as current Fed chair Jay Powell. Markets Insider reports Yellen echoes Powell, in that the Fed has 'already done a huge amount,' and now it's time for the US Congress to start pulling its weight. While the pandemic is still seriously affecting the economy, we need to continue extraordinary fiscal support. Janet Yellen Former Chair, US Federal Reserve Furthermore, Markets Insider reports Yellen told Bloomberg News she wants to see the US make a 'more effective effort' at fighting the pandemic. After all, she added, Germany, Korea, and China have all been successful in doing so.