Powell Sees Liftoff of Fed Rate in March as Ukraine Fogs Outlook
According to Bloomberg News, Federal Reserve Chair, Jerome Powell stated that the central banks might increase interest rates later in March so that hot inflation can be tamed amidst a labor market that is tight and while the ongoing invasion of Russia of Ukraine makes things uncertain in the US outlook. Powell stated that the condition in the labor market is very tight, which is a signal sending out to the lawmakers that the central bank was able to meet the maximum employment target under prevailing conditions, which throws the doors open for tackling inflation. He said that the employers were finding it difficult to fill the vacant positions while workers were leaving their current jobs to work for better prospects, pushing the wages to rise the fastest in many years.
Uncertainty rules