Federal Reserve Chairman Jerome Powell has stated that inflation is “much too high” and emphasized the need for the central bank to take action to combat rising prices.
In a recent interview, Powell expressed his concerns about the current inflationary pressures facing the economy. He highlighted that the rate of inflation is well above the Federal Reserve’s target of 2%, and emphasized the importance of addressing this issue promptly.
Powell’s comments come at a time when inflation has been on the rise, driven by a combination of factors including supply chain disruptions, increased consumer demand, and rising energy prices. The latest data from the Bureau of Labor Statistics shows that the consumer price index rose by 5.4% in September compared to the previous year, marking the highest annual increase in over a decade.
The Federal Reserve has been closely monitoring the inflationary trends and has already taken steps to address the issue. In its latest policy meeting, the central bank announced plans to start tapering its asset purchases in an effort to curb inflationary pressures.
Despite these efforts, Powell’s comments suggest that more action may be needed to bring down inflation to a more sustainable level. He emphasized the importance of maintaining a stable and predictable inflation rate, which is crucial for supporting economic growth and financial stability.
Powell’s remarks are likely to fuel speculation about the Federal Reserve’s future policy decisions. Many economists believe that the central bank may need to raise interest rates sooner than expected in order to control inflation. However, Powell has indicated that the timing of any rate hikes will depend on the evolution of inflation and the overall economic outlook.
In the meantime, policymakers will continue to closely monitor inflation and take appropriate measures to ensure price stability. Powell’s comments serve as a reminder of the challenges facing the economy in the current environment and underscore the need for proactive measures to address rising inflation.
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
Not with this crook, Biden is just an old crook and just thing about this 2 of his grandchildren received corrupt money from foreign country, that's unbelievable.
As long as corporations believe they can pass that price on to the consumer.. #CorporationsAreOurEnemyNotPeople
During inflation, Powell and his homies are making tons of $$$$$$.
How does the Fed stop price gouging? It's a legislative branch issue, with taxation being the most obvious tool.
JPowell is CRAZY to think the US will have 2% inflation. After the new $1.7T spending spree aka US DEBT @ $33T, Powell and his whacked-out sidekick JYellin AND brain-dead Biden will soon prove to be three brainwashed DC junkies, only to say "we got to 5% inflation, that's the best we can" do.
MARK THIS POST.
Inflation was at 1.5% during the Trump administration. What now? He did it before he can do it again.
If your counting on the fed it's too late for you! Hold on to your cash.
What if instead of talking about 9.1% inflation, the media acknowledged the true rate of inflation of about 18%? American workers are experiencing unprecedented declines in their real incomes, which is why record numbers have been forced to work multiple jobs to make ends meet. I wish I had more time for trial and error, but I'll be 56 in October and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have a portfolio of at least $500k at the age of 60.
Only Trump can do it
6% inflation is bullish because your children are slaves for life. Get back to work and obey the lies
So late to the party. Those guys don’t understand the real life – called inflation transitory after they dumped $5T in the economy or about 25% of GDP. Money with no goods or services produced. We need to rack up about 25% cumulative inflation (or about 3 years at this pace) to get back to the 2-3% range. They will just cause a recession in the course of that due to the negative economic consequences higher rates being – increase cost of capital for business and increased borrowing costs for consumers. Only banks win from higher rates and steep yield curve as they pay customer or on the short end of the yield curve abs lend on the long end of it…
Not enough must go higher to stop the fire.