More Powell: Lessons from Japan is don't get behind the curve and let inflation drop

Author: Greg Michalowski | Category: Central Banks

Senate Banking committee testimony continues

  • lessons from Japan is don't get behind the curve and let inflation drop below 2%
  • don't want to let inflation dropped well below 2% goal
  • important to defend FETs 2% symmetric goal and we will
  • legal and illegal immigrants add to the workforce, total immigration has accounted for 50% of workforce growth and added to GDP growth
  • SHould not assume Fed can be relied upon to shield economy in the event of failure to lift Debt ceiling
  • Essential congress raise debt ceiling in timely way.
  • Uncertainty on the part of business is most concerning with regard to trade.
  • Uncertainty will weigh on the economic outlook, been hearing it all year long from business contacts.
  • Most crypto currencies used for store of value like gold, not transactions
  • Not seeing widespread adoption of cryptocurrencies

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