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Photo by ANDREAS SOLARO/AFP via Getty Images 14 Jul 2021 Federal Reserve Chair Jerome Powell struck a stance of cool defiance when it comes to concerns over inflation surging. Powell said Wednesday that he expects inflation, which has been rising by much more than expected for the past four months, “will likely remain elevated in coming months” before “moderating.” This is an indication that the Fed is not ready to change course from its declared plan to keep rates low for an extended period of time even though growth and inflation are running hotter than expected. In testimony before the House Financial Services Committee, Powell faced many questions, particularly Republicans, about whether the Fed was being cavalier in ignoring higher than expected inflation. Democrats too challenged Powell to better explain why he is not worried about escalating prices, especially in the housing market, where escalating prices have put homes out of reach for lower income Americans in

United statesAmericansAmericanJerome powellMichael feroliSenate banking committeeHouse financial services committeeFederal reserveFederal reserve chair jerome powellFrank lucasSenate bankingஒன்றுபட்டது மாநிலங்களில்அமெரிக்கர்கள்அமெரிக்கன்ஜெரோம் போவல்செனட் வங்கி குழு