Fed’s Powell says the Bank would act against sustained higher inflation

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Federal Reserve Chair PowellPowell and US Treasury Secretary Yellen are scheduled to appear before the US Senate's Banking Committee28 September, Tuesday1400 GMT (10 am in Washington)to discuss Cares Act oversight (the Coronavirus Aid, Relief, and Economic Security Act)The text of his testimony has been published, highlights:higher prices, hiring troubles could be more sustained than anticipated - these pose risks for higher inflation expects strong growth for the rest of the year despite risks from coronavirus delta variantPowell saying that while price prices have been larger and lasing longer than expected they will abate.  Full text is here: ICYMI the news, Boston Fed head Rosengren and Dallas Fed head Kaplan both resigned Monday US time - both were embroiled in controversy over their trading activities. Did they fall or were they pushed? I think Mr Powell might well have given 'em a shove.  Source
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