11 months ‘This is a good time to be patient’ – Powell Manilatimes |Biz
WASHINGTON, D.C: Despite solid growth and continuing job gains, the US economy will see inflation fall even further below the central bank’s two percent goal, at least for a time, Federal Reserve Chairman Jerome Powell said Tuesday (Wednesday in Manila). US Federal Reserve Chairman Jerome Powell. AFP PHOTOThat forecast added weight to the Fed’s recent announcements that it will be “patient” before making any further changes in the benchmark borrowing rate, a stance Powell re-emphasized in semi-annual testimony before the US Senate Banking Committee. “Recent declines in energy prices will likely push headline inflation further below the… longer-run goal of 2 percent ... more