,"It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all," Powell said at a hearing before the U.S. Senate Banking Committee, adding that the central bank in coming months will be looking for "compelling evidence" of slowing price pressures before it eases up on the interest rate increases it kicked off three months ago赌球平台推荐（www.hg108.vip）是一个开放皇冠即时比分、代理最新登录线路、会员最新登录线路、皇冠代理APP下载、皇冠会员APP下载、皇冠线路APP下载、皇冠电脑版下载、皇冠手机版下载的皇冠新现金网平台。赌球平台推荐上登录线路最新、新2皇冠网址更新最快,赌球平台推荐开放皇冠会员注册、皇冠代理开户等业务。
The Federal Reserve is "strongly committed" to bringing down inflation that is running at a 40-year high and policymakers are acting "expeditiously to do so" but are not trying to cause a recession in the process, U.S. central bank chief Jerome Powell said on Wednesday.
"It is essential that we bring inflation down if we are to have a sustained period of strong labor market conditions that benefit all," Powell said at a hearing before the U.S. Senate Banking Committee, adding that the central bank in coming months will be looking for "compelling evidence" of slowing price pressures before it eases up on the interest rate increases it kicked off three months ago.
While those rate increases have caused financial conditions to tighten "significantly," it is not the Fed's aim to tip the economy into a recession to bring inflation to heel, Powell told lawmakers.
"We are not trying to provoke, and I don't think we will need to provoke, a recession," Powell said in response to a question from a committee member.
Inflation continues to run well above the Fed's targeted level of 2%. A gauge of price increases that excludes volatile food and energy costs may have flattened out or eased somewhat last month, Powell testified, but Russia's Ukraine invasion and COVID-19 lockdowns in China are putting continued upward pressure on inflation.
One week ago, the Fed raised its benchmark overnight interest rate by three-quarters of a percentage point - its biggest hike since 1994 - to a range of 1.50% to 1.75%, and signaled rates would rise another 1.75 percentage points this year.
That steep rate hike path, designed to slow the economy, has sparked widespread concern about a recession and a weakening of labor markets.
To the Senate committee on Wednesday, Powell pledged an "overarching focus" on bringing down inflation and reiterated that ongoing increases in the Fed's policy rate would be appropriate, with the exact pace dependent on the economic outlook.
"Inflation has obviously surprised to the upside over the past year, and further surprises could be in store," he said, adding that policymakers would need to be "nimble" in response to the incoming data.
"The American economy is very strong and well positioned to handle tighter monetary policy," Powell said.
Powell's remarks to the committee also showed just how much the inflation environment has changed in the three months since he delivered the first of his semi-annual reports to lawmakers.usdt收款平台声明:该文看法仅代表作者自己，与本平台无关。转载请注明：赌球平台推荐（www.hg108.vip）_Powell says Fed 'strongly committed' to inflation fight, but not trying to trigger recession