Jay Powell assured financial markets and the American public a little more than two weeks ago that the Federal Reserve would be “humble and nimble” as it trained its sights on fighting inflation.
But the chair of the US central bank is already facing doubts about whether he is adapting quickly enough and communicating effectively regarding the Fed’s response to stubbornly elevated prices.
After another higher-than-expected consumer price index reading last Thursday, investors started betting on an earlier and more aggressive run of interest rate increases than signalled by the Fed so far.
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