US Federal Reserve Chairman Jerome Powell assessed the situation in the country’s economy

Reuters has learned the content of the report with which the head of the Federal Reserve Jerome Powell intends to address Congress. It says, in particular, that the American economy is growing rapidly. The labor market situation is stable. However, the expansion of the economy contributes to the persistence of high inflation. The central bank will continue to take steps to achieve full employment and lower consumer prices. For this, the Fed has the appropriate tools. The American Central Bank will continue to support the economy and the labor market. The high level of national inflation should not be allowed to become sustainable. Said in the text of Jerome Powell’s speech. He also believes that after the crisis end caused by the pandemic, the United States economy will be different. The central bank will have to take these changes into account and adapt to them. Reuters’ information about the speech content of the Federal Reserve head did not affect the markets, as they have already taken into account changes in the regulator’s policy regarding the pace of reduction in the volume of the asset repurchase program and the increase in interest rates.

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Arseny Kudrin

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