Fed's Powell Says Some Inflation Pressures Should 'reverse'

Fed's Powell says some inflation pressures should 'reverse'

Washington, (UrduPoint / Pakistan Point News - 17th Jun, 2021 ) :The temporary factors that have caused some prices to surge should unwind, reducing inflationary pressure, Federal Reserve Chair Jerome Powell said Wednesday.

Noting a "a perfect storm of strong demand and limited supply" for things like used cars, Powell told reporters, "We do think it makes sense that would stop, and in fact it would reverse over time."However, "we are not sure" about the timeframe, he said.

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