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ADVERTISEMENT THE BIG DEAL Fed chief brushes off fears of extended inflation: Federal Reserve Chairman Jerome Powell said Wednesday that the U.S. is on track for a strong rebound from the coronavirus pandemic even as the economy hits inflationary speed bumps on the path to full recovery. Powell spoke to reporters after the Federal Open Market Committee (FOMC) the Fed’s monetary policymaking arm announced that it would hold its baseline interest rate range steady at 0 to 0.25 percent and continue to purchase $120 billion in Treasury and mortgage bonds each month. During the press conference, Powell brushed off fears that the recent inflation surge would force the Fed to slam on the brakes with an interest rate hike sooner than expected. 

United statesJerome powellJanet yellenHill alexander boltonChuck grassleyLos angeles latinoUniversity of californiaSenate finance committeePolitics initiativeMarket committeeFederal reserveHappy wednesdayThe moneySylvan laneFederal reserve chairman jerome powellFederal open market committee