Fed s Powell Gets an Earful About Inflation and Interest Rates from Small Businesses inddist.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inddist.com Daily Mail and Mail on Sunday newspapers.
On a visit Monday to York, Chair Jerome Powell got an earful from small-business people who are grappling with inflation, high interest rates, labor shortages and other challenges.
After helping build a floor under the economy during the pandemic only to put a squeeze on it as inflation soared, Federal Reserve Chair Jerome Powell on Monday faced a public he'd warned would go through painful times as the central bank hiked interest rates. On a day tour of York, Pennsylvania, once a thriving manufacturing town about 100 miles west of Philadelphia that local officials tout as undergoing a "fledgling renaissance," Powell got an earful from residents and community and business leaders fretful about inflation and eager for greater certainty about what lies ahead. Families are "squeezing to make ends meet," caught between rising prices and a lack of accessible child care, Kim Bracey, chief executive of the YWCA York, told Powell.
Fed s Powell gets an earful about inflation and interes accesswdun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accesswdun.com Daily Mail and Mail on Sunday newspapers.