“Our goal is to use our tools to get demand and supply back in sync so that inflation moves down,” Fed Chair Jerome H. Powell said at a panel hosted by the International Monetary Fund on April 21. “… I don’t think you’ll hear anyone at the Fed say that that’s going to be straightforward or easy. It’s going to be very challenging.”
“Economies don’t work without price stability,” he said. “We need that to have a strong labor market for an extended period of time.”The Fed will announce its rate hike decision at 2 p.m. Eastern time, at the conclusion of its two-day policy meeting. Afterward, Powell will answer questions on the economic outlook, inflation, the job market and global uncertainty clouding the path ahead.
The Fed is also expected to detail its plans to reduce its nearly $9 trillion balance sheet, which ballooned as part of the Fed’s rescue efforts during the pandemic. Fed leaders have said that the process will move faster than in 2017, the last time the Fed decided to shrink its portfolio.
Already headed for a recession after Q2 results. Quantatave easing should of been stopped a year earlier
And this rate hike will help reduce the inflation rate ... sometime in 2023.
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