Employment
Federal Reserve policy has handled the twin challenges by meeting the first, employment, head on with policy and rhetoric, and placing the second, inflation, in abeyance.
Throughout the pandemic Federal Reserve policy makers have focused on replacing the jobs lost in the lockdowns. Chair Jerome Powell has repeatedly said that its policy will remain accommodative until the US economy and employment are fully recovered.
After the Federal Reserve Open Market Committee (FOMC) meeting whose edited minutes will be released on Wednesday, Fed Chair Jerome Powell noted to reporters, in an uncharacteristically brusque answer, that “We have had one great jobs report,” referring to the March NFP which was then 916,000. “That is not enough.”
EconomicPolicyJournal com
economicpolicyjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from economicpolicyjournal.com Daily Mail and Mail on Sunday newspapers.
EconomicPolicyJournal com
economicpolicyjournal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from economicpolicyjournal.com Daily Mail and Mail on Sunday newspapers.
Martin Crutsinger May 12, 2021 - 3:36 PM
WASHINGTON (AP) â A worrisome bout of inflation struck the U.S. economy in April, with consumer prices for goods and services surging 0.8% â the largest monthly jump in more than a decade â and the year-over-year increase reaching its fastest rate since 2008.
The acceleration in prices, which has been building for months, has unsettled financial markets and raised concerns that it could weaken the economic recovery from the pandemic recession.
Wednesday s report from the Labor Department showed sharply higher prices for everything from food and clothes to housing. A 10% surge in the prices of used cars and trucks â a record jump â accounted for roughly one-third of last month s overall increases.