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Powell to Flag 'Upside Risks' to Inflation in Testimony on Hill

EconomySep 27, 2021 04:54PM ET
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© Reuters.

By Yasin Ebrahim

Investing.com - Federal Reserve Chairman Jerome Powell is expected to highlight "upside risks" to inflation as bottlenecks, hiring difficulties, and other drivers of price pressures continue, but will continue to suggest these pressures will prove transitory, according to prepared remarks ahead of his testimony due Tuesday for the Senate Banking Committee.     

"As reopening continues, bottlenecks, hiring difficulties, and other constraints could again prove to be greater and more enduring than anticipated, posing upside risks to inflation," according to the testimony.  While these effects have been "larger and longer lasting than anticipated, but they will abate, and as they do, inflation is expected to drop back toward our longer-run 2 percent goal."

If, however, the prices pressures prove to be more sustained than expected, and become a serious concern, the Fed would use its "tools to ensure that inflation runs at levels that are consistent with our goal," Powell will say in prepared remarks. 

On the labor market, Powell is expected to say that factors related to the pandemic, such as caregiving needs and ongoing fears of the virus, should "diminish with progress on containing the virus."

Powell to Flag 'Upside Risks' to Inflation in Testimony on Hill
 

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Comments (34)
Jacob Steinschlag
Jacob Steinschlag Sep 28, 2021 1:45AM ET
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transitory my ********
William Bailey
William Bailey Sep 28, 2021 1:13AM ET
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Powell not a teller of Truth
James Hilliard
James Hilliard Sep 27, 2021 9:43PM ET
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Energy rose 500% and he ignores it... shhhh. don't ask. don't tell.
MuraliKrishna Brahmandam
MuraliKrishna Brahmandam Sep 27, 2021 9:39PM ET
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Inflation will be a Chronic illness disease transitorily
Kevin Avila
Kevin Avila Sep 27, 2021 9:06PM ET
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No way… really?! Unbelievable!LMAO!
American Truth
American Truth Sep 27, 2021 9:00PM ET
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Powell must think no one goes to the grocery store. lies on top of lies.
RaRa mugu
RaRa mugu Sep 27, 2021 8:20PM ET
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I am Nepal
Green Mango
Green Mango Sep 27, 2021 7:45PM ET
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28T in debt later, the Country still has the same problems and same hacks wanting more.  Unreal, wakey wakey people
dav lo
dav lo Sep 27, 2021 7:32PM ET
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keep looping saying inflation, then say no pressure on Friday, you looping liar
Ricardo Diogo
Rcd72 Sep 27, 2021 7:22PM ET
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pathetic "transitory" concept...
Ferdinando Riboni
Ferdinando Riboni Sep 27, 2021 7:19PM ET
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more free money 💰 please ..so I can buy more motorcycles
Mart Bab
Rubberduck1973 Sep 27, 2021 6:47PM ET
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Shut up and buy gold people. It’s called the financial system and has been there for ages. If you read something, you would know how it works. Trade accordingly. Be happy the fed is aiming for high inflation. If not the USA would go bankrupt and the dollar will fall
William Lindsey
William Lindsey Sep 27, 2021 6:44PM ET
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He gonna open a bakery soon near you.
MAP SR
MAP SR Sep 27, 2021 5:47PM ET
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As time goes by, He keeps adjusting nicely his own rope around his neck.
Roberto Castillero
Roberto Castillero Sep 27, 2021 5:47PM ET
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I agree!
حور غانم
حور غانم Sep 27, 2021 5:46PM ET
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nice
Sol Wein
Sol Wein Sep 27, 2021 5:45PM ET
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Blame everything else but your monetary policy amd massive money printing for inflation. You are a Genius! Lol
Boubacar Jawo
Boubacar Jawo Sep 27, 2021 5:43PM ET
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How are you doing
Todd Gray
Todd Gray Sep 27, 2021 5:42PM ET
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can't have an organic market as long as the sec gives big money near omniscient data.
Iam Suleman
YesomiteSam Sep 27, 2021 5:42PM ET
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I got to get myself a dictionary
Honest Abe
HonestyPays Sep 27, 2021 5:39PM ET
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whatever he says are lies....fed chairs under investigation are exiting like bird droppings are creation the biggest bubbles in mankind's history...
Bamz Saputro
Bamz Saputro Sep 27, 2021 5:39PM ET
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yes you are right.. he and the fed almost a hundred year manipulating financial all nation in the world...
steve durall
steve durall Sep 27, 2021 5:36PM ET
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This POS has been dumping 6B PER DAY into the market for MONTHS to make this administration look good! Send these pukes down the road and let us have an organic market again!
Jokers R Us
Jokers R Us Sep 27, 2021 5:25PM ET
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End the Fed
peter neal
peter neal Sep 27, 2021 5:20PM ET
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Wages have gone up 20 percent to try to get people to work. Those wage increases aren't transitory. Inflation is 8 percent and he is out of his mind.
John Lakran
John Lakran Sep 27, 2021 5:20PM ET
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They ran out of free money so wages will drop to value since it will be work or don't eat vs now work or survive on 105% of your old wage
Igor Matvejev
User34 Sep 27, 2021 5:20PM ET
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For last 5 years rent is doubled ( from 800 to 1600 , US midwest) , but salaries are not. Many jobs are open, but salary offered is not enough  on current rental market.
James Taylor
James Taylor Sep 27, 2021 5:17PM ET
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Kaplan should let the public know his positions early on, since he obviously uses his position to capitalize on insider trading. That would be a better guage of the market, funny how that piece of “@&$ dumped his shares before the dip so prople would not think he was as crooked as the rest of them. Oh wait buy low sell high. As long as you are an offical nothing is illegal. Its just another day in the office.
Kenton Jenkins
Kenton Jenkins Sep 27, 2021 5:16PM ET
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He keeps printing new money to satisfy the equities and bond markets. Our nation will begin to pay the price in a few months. We will see some big inflation numbers before this is over ... especially with the Chinese economy collapsing slowly
John Healy
John Healy Sep 27, 2021 5:13PM ET
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Powell: “Wages and production in the United States continue to stagnant. But on the upside, we have modest inflation so most of what people need costs more (flashes a sideways grin) which could, might, sorta kinda make the voting committee start thinking about thinking about tapering bond purchases and raising the overnight rate. This should reassure investors that the Federal Reserve will continue to support the economy providing requisite monetary policy as necessary. In other words, we really have no idea what we’re doing. At all.”
 
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