The US economy is exploding, reminiscent of President Carter's years
- Gerardo E. Martínez-Solanas
- Category: Toma nota.../Take note...
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| Federal Reserve Chairman Jerome Powell said on Tuesday that he expects a series of interest rate hikes this year and “at some point perhaps later this year we will start to allow the balance sheet to run off." Some Republican senators also expressed worries over whether the Fed was veering too far from its stated objectives of price stability, full employment, and banking oversight. Many of the questions to Powell from both sides of the Senate aisle centered on inflation, which is running at a close to a 40-year high, but he insisted the surge is "transitory". “If we see inflation persisting at high levels longer than expected, then if we have to raise interest more over time, we will,” Powell said. |
U.S. consumer prices post the biggest rise in nearly 40 years; inflation close to peaking
CPI surges 7.0% year-on-year.
Jerome Powell
Washington DC, Jan 12 (Reuters).- U.S. consumer prices increased solidly in December as rental accommodation and used cars maintained their strong gains, culminating in the largest annual rise in inflation in nearly four decades, which bolstered expectations that the Federal Reserve will start raising interest rates as early as March.
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wind turbine’s blades lie on the ground. This is Cabo de la Vela, a remote area on the northern tip of the Colombian Guajira, a huge desert region on the Caribbean coast. The turbine is one of ten on the first wind farm to be built in Colombia in 17 years. It will stand 78 meters tall, each blade 49 meters long. The turbines are the new improved variety – bigger, more powerful and more cost-efficient because they can tap higher wind speeds.
