(ANSA) - NEW YORK, 10 JAN - The Fed will make sure that inflation does not take root in the economy. This was stated by the president of the Fed, Jerome Powell, in the speech he will give today in the Senate as part of the hearing for his reconfirmation.
"We will use all our tools to support the economy, a strong labor market and prevent high inflation from breaking down," Powell points out in a preview of his speech.
The Fed is firmly committed to achieving the dual goal of maximum employment and price stability. "We can begin to see that the post-pandemic economy is likely to be different. And pursuing our goals will take those differences into account," explains Powell.
The economy - he continued - is expanding at a strong speed and the labor market is solid.