Testimony of Fed Chair Powell and Treas. Sec Yellen
factors pushing inflation upward will linger well into next year
inflation running well above 2% goal, pushed up by pandemic-related supply and demand imbalances
continue to expect inflation will move down significantly over the next year
we will use our tools to support economy and strong labor market, and to prevent higher inflation from becoming entrenched
economy continues to strengthen
conditions in labor market have continued to improved
still ground to cover to reach maximum employment, expect progress to continue
slack is diminishing in the labor market
rise in covid cases, omicron variant pose downside risks to employment, increased uncertainty for inflation
30 Nov 21 (Tue)
03:31 pm
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