fed: Record US inflation growing concern for Fed, business

WASHINGTON: The scourge of rising prices now ranks among American business leaders’ top concerns, according to a survey released Thursday, while Federal Reserve official indicated the central bank is ready to move against inflation.
Official data shows signs the wave of increases may have peaked at the end of the year, but with inflation at its highest level in nearly four decades, more economists and some Fed officials say the central bank might have to be more aggressive to stem the surge.
Inflation is the number-two worry among chief executives, behind labor shortages, and the price pressures could persist into 2023, according to a survey by The Conference Board released Thursday.
“I’m very concerned about the high level of inflation,” Fed Governor Lael Brainard said at her nomination hearing before the Senate Banking Committee.
Brainard, whom President Joe Biden nominated to…

Source link



Please enter your comment!
Please enter your name here