Inflation, Monetary Policy and the Economy
2022-06-23T10:02:02-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvYWU5XC8wMDNcLzE2NTU5OTI5ODhfMDAzLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19Federal Reserve Chair Jerome Powell acknowledged the Fed “underestimated” the risk of inflation but assured members of the House Financial Services Committee that a recession is not inevitable. Chair Powell said the Federal Reserve Board is aiming for a 3% to 3.5% interest rate by the end of 2022. During testimony he warned that rising interest rates could have a negative impact on unemployment and would likely affect the housing market. He explained the purpose of rising rates would dampen demand in order to allow supply to catch up.
Federal Reserve Chair Jerome Powell acknowledged the Fed “underestimated” the risk of inflation but assured members of the House Financial… read more
Federal Reserve Chair Jerome Powell acknowledged the Fed “underestimated” the risk of inflation but assured members of the House Financial Services Committee that a recession is not inevitable. Chair Powell said the Federal Reserve Board is aiming for a 3% to 3.5% interest rate by the end of 2022. During testimony he warned that rising interest rates could have a negative impact on unemployment and would likely affect the housing market. He explained the purpose of rising rates would dampen demand in order to allow supply to catch up. close
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