Federal Book Chair Jerome Powell described the current rising cost of living situation as "a little even worse" than in December, mentioning there is plenty of area to raise rates without injuring the tasks market.
" There's a fair bit of space to elevate rate of interests without endangering the labor market. This is by so many actions a historically tight labor market– record levels of work openings, stops, earnings are moving up at the greatest speed they have in decades," Powell told press reporters.
The Fed Chair additionally clarified the Fed's assuming around the March price hike, specifying: "The committee is of the mind to increase the government funds price at the March meeting."
When inquired about the rising cost of living scenario in the U.S., Powell said that points are "a little worse" than in December. "I would certainly be inclined to elevate the 2022 core PCE by a few tenths today."
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