{"id":588517,"date":"2023-08-25T18:18:43","date_gmt":"2023-08-25T15:18:43","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/powell-hammers-home-inflation-fight-in-jackson-hole-speech\/"},"modified":"2023-08-25T18:18:43","modified_gmt":"2023-08-25T15:18:43","slug":"powell-hammers-home-inflation-fight-in-jackson-hole-speech","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/powell-hammers-home-inflation-fight-in-jackson-hole-speech\/","title":{"rendered":"#Powell hammers home inflation fight in Jackson Hole speech"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/07\/powelljerome_062123tc04_w.jpg?w=900\" \/><\/p>\n<div>\n<p>Federal Reserve Chairman Jerome Powell hammered home the Fed\u2019s 2-percent inflation target on Friday amid speculation that the bank could tolerate a higher annual inflation rate in the post-pandemic economy.<\/p>\n<p>\u201cIt is the Fed\u2019s job to bring inflation down to our 2 percent goal and we will do so,\u201d he said at a gathering of central bankers in Jackson Hole, Wyo., a luxurious resort destination near Yellowstone National Park.<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>Prices as measured in the Consumer Price Index (CPI) are now 3.2 percent higher than they were last year, having bucked up in July from a 3.1-percent annual increase in June. <\/p>\n<p>As measured by the personal consumption expenditures price index (PCE), prices are 3 percent higher than they were last year.<\/p>\n<p>Fed officials are attempting to bring rates high enough to bring price growth back down to its ideal level without slowing the economy into a recession. Some economists have suggested the Fed should settle with inflation slightly above 2 percent to avoid derailing the economy.<\/p>\n<p>Powell\u2019s speech left the door open for further rate hikes in pursuit of the 2-percent goal, but Wall Street saw lower odds of a rate hike after his remarks.<\/p>\n<p>The Fed Watch prediction algorithm by financial company CME put the odds of another quarter-point rate hike at the Fed\u2019s next meeting at 13.5 percent, down from 17.5 percent on Thursday.<\/p>\n<p>After spiking throughout the recovery from the coronavirus pandemic, inflation lies mostly now in housing, the sector of the economy most sensitive to rate hikes.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>Powell said Wednesday to expect an easing in housing prices over the coming year, but stopped short of saying that prices would actually come down rather than simply decelerating.<\/p>\n<p>\u201cThe market rent slowdown has only recently begun to show through to that measure,\u201d Powell said, likely in reference to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/fred.stlouisfed.org\/series\/CUSR0000SEHC\">owners\u2019 equivalent rent<\/a> subsection of the CPI, which only started coming down in May.<\/p>\n<p>\u201cThe slowing growth in rents for new leases over roughly the past year can be thought of as in- -the-pipeline and will affect measured housing services inflation of the coming year,\u201d he said.<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>The Fed has been hiking interest rates since March of last year in order to curb inflation, which reached a four-decade high of 9.1 percent in June 2022. <\/p>\n<p>The blame for inflation \u2014 a complex international phenomenon \u2014 has fallen somewhat along party lines in the U.S. Most economists agree that a combination of \u201csupply-side\u201d disruptions and \u201cdemand side\u201d stimulus payments made to households by both the Trump and Biden administrations are behind rising prices.<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Media<\/a> Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/homenews\/4171226-powell-hammers-home-inflation-fight-in-jackson-hole-speech\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chairman Jerome Powell hammered home the Fed\u2019s 2-percent inflation target on Friday amid speculation that the bank could tolerate a higher annual inflation rate in the post-pandemic economy. \u201cIt is the Fed\u2019s job to bring inflation down to our 2 percent goal and we will do so,\u201d he said at a gathering of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":588518,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/07\/powelljerome_062123tc04_w.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[134343,134353,86421,73798,10574,137274,70550,90482,70551,78738,115,74132],"class_list":["post-588517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-campaign","tag-court-battles","tag-criminal-justice","tag-defense","tag-education","tag-fed","tag-federal-reserve","tag-house","tag-inflation","tag-jerome-powell","tag-news","tag-prices"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/588517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=588517"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/588517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/588518"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=588517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=588517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=588517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}