“We’re going to see upward pressure on inflation, at least for a while,” from higher commodity prices, especially energy costs, Fed Chairman Jerome Powell said during an appearance before the Senate Banking Committee.
The war in Ukraine is likely to boost inflation in the short-run, said Fed Chairman Jerome Powell on Thursday.
The conflict in Ukraine is also exacerbating global supply-chain woes, Powell said, which will lead to more inflation headaches.
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Treasury yields edge lower as investors parse Powell, monitor Russia-Ukraine warTreasury yields edge lower Thursday as Russia's invasion of Ukraine enters a second week.
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Powell signals support for hiking interest rate at Fed meeting in two weeksThe Federal Reserve chairman said the effects of the invasion in Ukraine remain 'highly uncertain.'
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Traders fret about a growth slowdown as Fed Chair Powell faces a dilemma on ratesWar in Ukraine may slow down growth, but it also stokes inflation. The Federal Reserve must weigh these factors.
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