Powell: FOMC may accelerate taper
Fed will no longer refer to inflation as “transitory”
Federal Reserve Board chair Jerome Powell told the US Senate banking committee on November 30 that policy-makers may reduce quantitative easing faster than they had previously signalled.
Speaking alongside Treasury secretary Janet Yellen, Powell also said the central bank would change the way it describes short-term inflationary pressures.
Powell said increasing inflationary pressures and better labour market conditions “signal… big significant growth in coming months”. Powell went on to say
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