Fed Latest: Bernstein Sees US Maintaining Pay Gains, Easing CPI
This article is for subscribers only.
The chair of President Joe Biden’s Council of Economic Advisers, Jared Bernstein, said the US can maintain strong consumer spending, real wage gains, and a tight labor market while continuing to see inflation ease off.
Policymakers from around the world have traveled to Jackson Hole, Wyoming, for a two-day economic symposium hosted by the Federal Reserve Bank of Kansas City. In a speech earlier, Fed Chair Jerome Powell said the US central bank is prepared to raise interest rates further if needed and intends to keep borrowing costs high until inflation is on a convincing path toward the Fed’s 2% target.