Fed's Powell says 'premature' to up rates despite inflation risk
WASHINGTON: Despite a risk that high inflation in the United States could persist, it would be \u0022premature\u0022 to raise borrowing rates and risk slowing the economic recovery, Federal Reserve Chair Jerome Powell said Friday (Oct 22). The US central bank chief acknowledged that supply constraints and shortages
WASHINGTON: Despite a risk that high inflation in the United States could persist, it would be"premature" to raise borrowing rates and risk slowing the economic recovery, Federal Reserve Chair Jerome Powell said Friday (Oct 22).The US central bank chief acknowledged that supply constraints and shortages that have caused prices to rise sharply are"likely to last longer than previously expected, likely well into next year."
But at the Fed"we need to be patient," Powell said during a panel discussion organized by South Africa's central bank.The Fed is"on track" to begin to pull back on its massive monthly bond purchases, which would be completed by mid-2022, he said.
But"it would be premature to actually tighten policy by raising rates now with the effect and intent of slowing job growth."Policymakers are expected to announce the slowdown of bond buying at the central bank's policy meeting early next month, but the benchmark lending rate is forecast to remain at zero at least until late next year. headtopics.com
Inflation in the United States has been running at more than double the Fed's two percent target, but Powell said the supply bottlenecks are likely to diminish, allowing inflation and wage pressures to retreat, which he called the"most likely case."
However, officials"need to be watching very carefully."He has pledged that the Fed will act to restrain inflation, if needed. Read more: CNA »
Raeesah Khan testifies to privileges committee that WP leaders told her to keep to lie made in Parliament
SINGAPORE — Former Workers’ Party (WP) Member of Parliament Raeesah Khan has given evidence to the Committee of Privileges that she had been told by WP leaders to stick to the lie she had made in Parliament on Aug 3.
Up them. Up them high.
Taiwan central bank says watching inflation, will take steps if neededTAIPEI : Taiwan's central bank said on Friday it is watching inflation and there is no cause for alarm, but added it will adopt 'appropriate' monetary policies if needed.In a Facebook post, the central bank said that major institutions predict Taiwan's consumer price index, or CPI, will not exceed 2per ce
BOJ says Japan's banking system stable, warns of risksTOKYO: Japan\u0027s banking system remains stable as a whole but faces risks such as a possible increase in financial institutions\u0027 credit costs caused by a delay in the country\u0027s economic recovery, the Bank of Japan (BOJ) said on Thursday (Oct 21). The central bank must also be vigilant to the risk financial i
Latvia goes back into lockdown as COVID-19 rate spikesRIGA, Latvia: Latvia plunged back into lockdown on Thursday (Oct 21), with non-essential shops closed and cinemas, theatres and hairdressers shutting down for a month in a bid to break the world\u0027s worst COVID-19 rate. Latvia has seen 1,406 COVID-19 infections per 100,000 inhabitants over the
COVID-19 recovery poses dire climate, health risks: LancetPARIS: Countries\u0027 fossil-fuel powered COVID-19 recoveries will have long-lasting consequences on human health and risk worsening food and water insecurity, heatwaves and infectious diseases already threatening billions globally, a major assessment warned on Thursday (Oct 21). The Lancet Countdown is t 是你們自己不保重身體，導致自己身體不好是吧？怎麼又來怪氣候？ 幾年前就有個新加坡男人在香港被冷死？當天的氣溫是12℃？
Explainer: How China Evergrande's debt troubles pose a systemic riskHONG KONG: China Evergrande Group has supplied funds to pay interest on a dollar bond, a person with direct knowledge of the matter told Reuters on Friday (Oct 22), days before a dea