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June 23, 2021 WASHINGTON (AP) The economy is growing at a healthy clip, and that has accelerated inflation, Federal Reserve Chair Jerome Powell (AP pic below) said in written testimony delivered yesterday at a congressional oversight hearing. Still, Powell reiterated his view that inflation’s recent jump to a 13-year high would prove temporary. “Inflation has increased notably in recent months,” Powell said in the prepared remarks. He blamed the rise on several factors, including sharp price declines last year at the onset of the pandemic, which make inflation figures now, compared with a year ago, look much larger. Higher gas prices, and rapid increases in consumer spending as the economy reopens, coupled with supply bottlenecks, have also contributed to rising costs. “As these transitory supply effects abate, inflation is expected to drop back toward our longer-run goal,” Powell said, referring to the two per cent inflation rate the Fed typically targets.

United statesJohn williamsJames bullardYork federal reserve bankFederal reserveFederal reserve chair jerome powellLouis federal reserve president james bullardஒன்றுபட்டது மாநிலங்களில்ஜான் வில்லியம்ஸ்ஜேம்ஸ் புல்லார்ட்யார்க் கூட்டாட்சியின் இருப்பு வங்கிகூட்டாட்சியின் இருப்புகூட்டாட்சியின் இருப்பு நாற்காலி ஜெரோம் போவல்லூயிஸ் கூட்டாட்சியின் இருப்பு ப்ரெஸிடெஂட் ஜேம்ஸ் புல்லார்ட்