As more federal data show a major spike in inflation, another top federal official said the U.S. is in for more aggressive inflation for the rest of 2021.
Federal officials have been pressed to speak on rising inflation after \data released earlier this week showed that the all items index increased 5.4% over the last 12 months, the biggest spike since the 2008 financial crisis.
Treasury Secretary Janet Yellen commented on the rise in inflation, saying it would grow worse this year.
The Federal Reserve is promising to use its “full range of tools” to pull the country out of a recession brought on by a global pandemic, signaling that it would keep interest rates low through 2022.
In its semi-annual monetary policy report to Congress, the central bank said Friday that the COVID-19 outbreak was causing “tremendous human and economic hardship across the United States and around the world.”
Federal Reserve Chair Jerome Powell warned Wednesday that the federal budget is on “an unsustainable path” due to rising levels of federal debt.
by Robert Romano Did anyone notice the Fed inverted the yield curve? On May 23, the 10-year Treasury dipped below the federal funds rate, the benchmark interest rate set by the Federal Reserve that it currently has set for a range of 2.25 percent to 2.5 percent, and has…