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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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Fed's Powell says inflation 'is slightly worse' than in December, signals March rate hike
Federal Reserve Chair Jerome Powell described the current inflation situation as "slightly worse" than in December, stating there is plenty of room to raise rates without hurting the jobs market.
"There's quite a bit of room to raise interests without threatening the labor market. This is by so many measures a historically tight labor market — record levels of job openings, quits, wages are moving up at the highest pace they have in decades," Powell told reporters.
The Fed Chair also clarified the Fed's thinking around the March rate hike, stating: "The committee is of the mind to raise the federal funds rate at the March meeting."
When asked about the inflation situation in the U.S., Powell said that things are "slightly worse" than in December. "I'd be inclined to raise the 2022 core PCE by a few tenths today."
__________________________________________________________________
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