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Fed’s Higher Inflation Forecasts Tied to Widening Supply Bottlenecks

US-POLITICS-HEARING-BANKING
Photographer: SUSAN WALSH/AFP

Federal Reserve Chair Jerome Powell acknowledged something at the end of his press conference Wednesday that those working in the trenches of global trade during the pandemic have experienced for almost a year.

“It turns out it’s a heck of a lot easier to create demand than it is to, you know, to bring supply back up to snuff,” he said in response to questions from Bloomberg’s Michael McKee.