Fed Chair Powell says it’s ‘very, very unlikely’ the U.S. will see 1970s-style inflation

CNBC/Jeff Cox/6-22-2021

‘Federal Reserve Chairman Jerome Powell acknowledged Tuesday that some inflation pressures are stronger and more persistent than he had anticipated, though still not on par with some of the worst episodes the U.S. has seen historically.”

USAGOLD note: Had the chairman said otherwise he would be obligated to entertain unpleasant options like higher rates, tapering, etc. While he would rather shuttle the 1970s off to the backburner, heavyweights in the private sector are not shy about raising its specter.

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