Federal Reserve Chair Jerome Powell says the US economic recovery is uneven. Federal Reserve Chair Jerome Powell underscored the U.S. economy’s ongoing weakness Tuesday in remarks that suggested that the Fed sees no need to alter its ultra-low interest rate policies anytime soon. That outlook has also raised concerns, though, about a potential surge in inflation and has fueled a sharp increase in longer-term interest rates this year. “As with overall economic activity, the pace of improvement in the labor market has slowed,” Powell said. For now, interest rates remain, by historical standards, exceedingly low.

Source: The Standard February 23, 2021 18:11 UTC