Fed Chair Powell Calls Inflation ‘Frustrating’ and Sees It Running into Next Year

‘It’s also frustrating to see the bottlenecks and supply chain problems not getting better’

(Via CNBC)

Federal Reserve Chairman Jerome Powell still expects inflation to ease eventually, but said Wednesday that he sees the current pressures running into 2022.

Assessing the current economic situation, the Fed chief said during a panel discussion hosted by the European Central Bank that he was “frustrated” that getting people vaccinated and arresting the spread of the Covid delta variant “remains the most important economic policy that we have.”

“It’s also frustrating to see the bottlenecks and supply chain problems not getting better — in fact at the margins apparently getting a little bit worse,” he added. “We see that continuing into next year probably, and holding up inflation longer than we had thought.”

Video files
Full
Compact
Audio files
Full
Compact
Similar stories
Obama Economic Chief: We Could Easily End up with Inflation About 3-4% This Year
Carney: No More Delays; Employer Mandate ‘Will Be Phased in Starting Next Year’
Meyers: Trump’s Comments Will Be Worthless Next Year
Obama: Next Year Someone Else Will Be Here and ‘It’s Anyone’s Guess Who She’ll Be’
CNBC: Biden’s Build Back Better Bill Will Create More Inflation with Frontloaded Spending