Click here to view original web page at slaynews.com
Federal Reserve Chairman Jerome Powell has insisted that curbing inflation and restoring stability to the U.S. dollar is one of the Fed’s highest priorities.
Powell spoke before the Board of Governors of the Federal Reserve on Friday.
Speaking in his customary address to the Fed’s Board, Powell made a point of highlighting the Fed’s commitment to reverting to normal inflation levels, consistent with the Federal Reserve’s increasingly hawkish approach to fighting inflation with quantitative easing and interest rate hikes.
“The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value,” Powell told the Board.
“To that end, my colleagues and I are acutely focused on returning inflation to our 2 percent objective.”
Until last autumn, the consensus of Federal Reserve economists agreed that rate hikes were broadly unnecessary.
However, as the rate of inflation has continued to grow to levels unseen in over four decades, the Fed has gradually become more hawkish on inflation.
They began implementing rate hikes earlier this year, initially at a slower rate, though recently at higher levels.On Wednesday, the Federal Reserve announced yet another interest rate hike of 0.75 percent, the highest single rate hike since 1994.As recently as last May, Chairman Powell said that a rate hike of 0.75 percent was “not something the committee is actively considering.” Slay the latest News for free! The economic tribulations caused by rising inflation, as well as other complications such as supply chain problems and poor stock markets, have created a political problem for Democrat President Joe Biden.Biden’s approval ratings have declined in tandem with the state of the U.S. economy.In an interview on Thursday, Biden defended his economic performance.He appeared to grow defensive over suggestions that his administration was responsible for the current economic problems.“If it’s my fault, why is […]
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!
JD Rucker