Powell: Fed to keep rates higher for longer to cut inflation

that rate increases will slow. The S&P 500 jumped 122 points, or 3.1%. It had fallen before Powell spoke.

Powell acknowledged there has been some good news on the inflation front, with the cost of goods such as cars, furniture, and appliances in retreat. He also said that rents and other housing costs — which make up about a third of the consumer price index — were likely to decline next year. “We want wages to go up strongly, but they’ve got to go up at a level that is consistent with 2% inflation over time,” Powell said. Wage growth at about 3.5% a year would fit that criteria, he said.

With the supply of workers limited, the Fed’s higher interest rate policies will have to reduce businesses’ demand for new employees to meet the lower level of supply, he added.

filth reporting on filth.

Because it couldn't possibly be the greed of corporations. Not like we can see they have record profits?

Stop making America live above it's means!!!

Is this “Build back better”?

The Fed is part of the problem.

gtf

🤔

You are hurting the people. Look at corporate profits if you want to do something about inflation.

So when can we plan to see savings account interest go up? Its been 0.01% It’s been set at 0.01%

So an entire generation of renters and not homeowners.

Thank God inflation was transitional! Seriously, do you think that they are all stupid or were they directed to lie?

Everything about this 'system' we've subjected ourselves to is only about keeping the poor poor and the rich richer.

Blind strategy. Interest rates are through the roof. How does that help anybody.

That’s really what you got out of that

Hold them accountable for the inflation and deflation they have created and facilitated. Abolish the FED.

Like this actually helps with inflation driven by monopoly power. But, it does keep most of the rest of us down, which, let's face it, it is called Capitalism, not Laborism.

so the stock market goes parabolic makes sense

Uuuuugggghhhh!

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