36 days ago • Posted by Jasper Lawler
Powell on 60 Minutes: Fed doesn't want return to "bad old days of inflation"
Fed Chair Jerome Powell was on US TV show 60 minutes. Some of the comments are coming in through Reuters.
- Reopening too quickly a 'principal risk' to recovery
- Fed will support economy until recovery is complete
in assessing progress wants to see labor force participation moving back up
- Fed does not want inflation to go materially above 2% and return to the 'bad, old inflation days'
- Does want inflation 'moderately' above 2% for some time
- Does not appear the case now that large federal deficits cause inflation