10/22, 5:53 PM (Source: TeleTrader)
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Powell: Likely to approach max. employment in 2022

"It's very possible that we'll be at or near labor market conditions that are consistent with" the United States Federal Reserve's maximum employment target next year, the central bank's Chair Jerome Powell stated on Friday.

However, such a development would be contingent on the Delta coronavirus variant continuing to "fade," as well as the easing of supply issues, he pointed out during the BIS-SARB Centenary Conference Panel event.

A potential emergence of a "wage-price spiral" will be watched carefully by the Fed, Powell underlined. However, the issue is still not "evident," and the central bank still expects to see "progress" when it comes to the labor market, especially new hiring, Powell added.

Breaking the News / MS