The Federal Reserve is prepared to take action to ensure elevated inflation does not become entrenched, chair Jay Powell will reiterate to US lawmakers during his confirmation hearing on Tuesday.
In testimony to be delivered to the Senate banking committee, Powell — who was nominated by President Joe Biden in November to serve a second term leading the US central bank — will nod to the speed of the economic recovery, the strength of the labour market and the costs imposed by high inflation.
“The economy has rapidly gained strength despite the ongoing pandemic, giving rise to persistent supply and demand imbalances and bottlenecks, and thus to elevated inflation,” he said in prepared remarks.
您已阅读14%（698字），剩余86%（4418字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。