6/15/2022, 9:14 PM (Source: TeleTrader)
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Not seeing wage-price spiral - Fed's Powell

The United States Federal Reserve does not see a wage-price spiral as a consequence of high inflation as wages are not responsible for the rise in prices, Chair Jerome Powell asserted on Wednesday.

The central bank does not think the ongoing increase in prices will affect inflation expectations, he told reporters.

There are always risks of "going too far" or "not going far enough" but the worst mistake by the Fed would be failing to achieve price stability, Powell underlined.

Baha Breaking News (BBN) / MS