Washington — Federal Reserve Board Chairman Jerome Powell reaffirmed the central bank’s commitment to maintain monetary easing policies until the economy recovers further from the following effects: Coronavirus pandemic..
“The economy is far from our employment and inflation goals,” Powell said in a statement he repeated in recent weeks in a Senate Banking Commission testimony.
Therefore, the Fed will continue to support the economy Nearly zero interest rate Large-scale asset purchases up to “substantial further progress”, a criterion that Powell said “is likely to take time” to achieve.
Powell will submit the Fed’s semi-annual monetary policy report to members of the committee on Tuesday and will hold it at a hearing of the House Financial Services Committee on the same Wednesday.
The hearing will be held as follows Steady progress in vaccination And multiple fiscal stimulus measures have brightened the economic outlook, the Fed’s chief said. But his remarks suggested that it would not immediately encourage the Fed to tighten monetary policy.
Jerome Powell believes the easy money policy is maintained
Source link Jerome Powell believes the easy money policy is maintained