Fed Chair Jerome Powell on preventing inflation from becoming ‘entrenched’

Yahoo Finance published this video item, entitled “Fed Chair Jerome Powell on preventing inflation from becoming ‘entrenched'” – below is their description.

#shorts #JeromePowell #interestrates #inflation

Fed Chair Jerome Powell spoke to the Senate Banking Committee about inflation becoming ‘entrenched’ and the potential for a recession during his renomination hearing.

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In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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