Biden Gets Bad News From His Own Official
==========
Federal Reserve chair Jerome Powell suggests that inflation is proving stickier than expected and that monetary policy may need more time to bring prices down to the central bank's target of 2 percent. Powell acknowledges that progress on cooling prices has slowed in the first quarter of the year. American voters are concerned about the economy, with half saying it is headed in the wrong direction. A poll shows that 48 percent of voters think Biden's policies are responsible for the wrong trajectory of the economy. Powell expects continued growth and a strong labor market but is cautious about inflation. The Consumer Price Index (CPI) inflation April reading is expected to show that prices cooled to 3.4 percent for the month. The longer rates stay elevated, the longer it will take for Americans to afford things like home loans. Powell's comments could add to concerns about the economy ahead of the November election.
#Biden #JeromePowell #Inflation #MonetaryPolicy #Economy #FederalReserve
https://www.newsweek.com/biden-bad-news-inflation-2024-jerome-powell-1900592
Newsweek /
npub1ka…2agq5
2024-05-14 22:32:51
Author Public Key
npub1ka5jtasfg8rfe47ypj4x0a2d70fvaksu0u9z9rku70yc8hmjmu9sz2agq5Published at
2024-05-14 22:32:51Event JSON
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"content": "Biden Gets Bad News From His Own Official\n==========\n\nFederal Reserve chair Jerome Powell suggests that inflation is proving stickier than expected and that monetary policy may need more time to bring prices down to the central bank's target of 2 percent. Powell acknowledges that progress on cooling prices has slowed in the first quarter of the year. American voters are concerned about the economy, with half saying it is headed in the wrong direction. A poll shows that 48 percent of voters think Biden's policies are responsible for the wrong trajectory of the economy. Powell expects continued growth and a strong labor market but is cautious about inflation. The Consumer Price Index (CPI) inflation April reading is expected to show that prices cooled to 3.4 percent for the month. The longer rates stay elevated, the longer it will take for Americans to afford things like home loans. Powell's comments could add to concerns about the economy ahead of the November election.\n\n#Biden #JeromePowell #Inflation #MonetaryPolicy #Economy #FederalReserve\n\nhttps://www.newsweek.com/biden-bad-news-inflation-2024-jerome-powell-1900592",
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