Economics
Powell Flags Rising Inflation Risk While Playing Down Rate Hikes
- It’s time for Fed to begin winding down bond-buys, Powell says
- Fed chair speaks on final day before media blackout period
Jerome Powell
Photographer: Kevin Dietsch/Getty ImagesThis article is for subscribers only.
Federal Reserve Chair Jerome Powell sounded a note of heightened concern over persistently high inflation as he made clear that the central bank will begin tapering its bond purchases shortly but remain patient on raising interest rates.
“The risks are clearly now to longer and more persistent bottlenecks, and thus to higher inflation,” Powell said Friday during a virtual panel discussion hosted by the South African Reserve Bank and moderated by Bloomberg’s Francine Lacqua.