January 11, 2022 GMT
WASHINGTON — Chair Jerome Powell acknowledged Tuesday that high inflation has emerged as a serious threat to the Federal Reserve’s goal of helping put more Americans back to work and that the Fed will raise rates more than it now plans if needed to stem surging prices. On Tuesday, Powell took pains to rebuff suggestions from some Democratic senators that rate increases would slow hiring and potentially leave many people, particularly lower-income and Black Americans, without jobs. Fed rate increases typically lead to higher rates on many consumer and business loans and have the effect of slowing economic growth. But Powell made clear that he is now more worried about the damage that rising inflation could inflict on the job market.
He needs to tell companies to stop raising their prices just to expand their profits. It's not consumers and workers driving price increases.
All while yields dipped, Wallstreet bid up energy prices again, and put another top on the Dow that risks a crash.
How about addressing price gouging
Hard to see how raising interest rates would get more houses built, lower rents or mortgages, or induce kings and dictators to lower oil prices. I like high wages and low prices. If I was in business, I’d like the opposite. He seems moderate, in spite of our differences.
Why raising interest rates is nothing but corporate welfare and an inflationary policy.
Easy money and too much money are causing Americans nightmares. When people could buy a house and turn around sell it for twice as much and get it sold in 30 days, they have way too much money. federalreserve
There is no such thing. Inflation is just another word for greed.
Let's go, Brandon!
Increasing interest rates increases inflation. MMT
Low interest rates also exacts a toll.
Nobody should be surprised by rising inflation. This has been building for years. Many have been warning about it, but no one listened Unchecked deficit spending, with cheap money policies do it every time.
Pretty much what economists were predicting when Trump was trying to influence the fed on rates over Twitter.
Biden is destroying this country. How is anyone that voted for him not embarrassed at what they enabled?
Maybe just call Trump 📞 he was doing great. It can't hurt for Biden to get help.