Jerome Powel Jan 11 comments on inflation/interest rates
https://archive.vn/1k7mQ
- Called inflation a "severe threat"
- Willing to raise rates more over time, if needed
- 10 year T-bond rates hit high of 1.87% last week (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/pages/textview.aspx?data=yield)
- Fed may start shrinking it's $8.8 trillion in holdings
- Powell claims the process will run "sooner and faster" than previous pullbacks
- Policy pivot came at end of last year. Initially, Fed thought it was supply chain issues causing inflation. Now, they are concerned that demand is also causing inflation.
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