It should be remembered that in November 12-month inflation stood at 6.8%, the highest level since June 1982.
Likewise, the US Federal Reserve began its last 2021 monetary policy meeting on Tuesday, particularly awaited at a time when 12-month inflation reached a 39-year high in November.
The meeting of the monetary policy committee (FOMC) “began at 0900 (1400 GMT) as scheduled,” said a spokesman for the Federal Reserve (Fed, central bank). The meeting will end on Wednesday at half-time.
One Announcement with the new economic forecasts will be published this Wednesday at 2:00 p.m. (7:00 p.m. GMT) before the agency’s president, Jerome Powell’s customary press conference at 7:30 p.m. GMT.
Given the strong and widespread rise in prices in the United States, Powell recently acknowledged before Congress that inflationary pressures should not continue to be considered “transitory” as he had been arguing up to now..
He also announced that the FOMC will address on Tuesday and Wednesday the issue of an increase in the pace of reduction of asset purchases that, once it reaches zero, will allow the central bank to address the increase in interest rates to try to contain inflation.
Source From: Ambito
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