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(Reuters) — As Federal Reserve Chair Jerome Powell looks forward to four more years at the helm of the world's most powerful central bank, attention is turning to the increasing
Someone who's been integral in how we have handled this inflationary supply chain crisis situation. >> i do like the idea that we are returning to the tradition of reappointing chairs who have done a good job and i think on the whole jay powell has done a good job. job going forward will be different. he has inflation as a top economic problem. he is going to have to change forces for the fed i think quickly. accelerating the taper. taking on residual inflation. that's a different job than he's done in the past several years. my hope is that he will change course quickly. >> sandra: jason, do ...
The pandemic hit. fed chair jay powell also said he thinks the inflation we're seeing the temporary but said it could still last into next year. i want to bring in cnbc's senior economics reporter, steve leaseman. explain this move from powell. what is the fed doing? >> they are gradually reducing the stimulus they put in place. they've been out there buying a lot of treasuries, trying to bring the interest rate down in addition to keeping rates at zero and now what they're going to do is instead of buying $120 billion of treasuries and mortgages every month, they're going to buy $105 billion ...
As the delta surge has fade? >> i think fingers are crossed. it's the october numbers that come out friday morning at 8:30. i think challenge here is going to be that if it's a bad number, i mean, quart million, 250,000 or less when people are banking on more, i think it will be a real challenge. that's where jay powell is. he's stuck between a rock and a hard place. he wants to keep the labor market growing, and if he raises interest rates or cuts back on the taper too much he talked about yesterday, the big bond-buying program, that will slow job creation. at the same time, inflation is real...
The dollar hovered near recent peaks and U.S. Treasuries held steady on the morning of Nov. 3 as investors await an expected Federal Reserve announcement.