BEAMSTART Logo

Fed chief says pandemic aid not primary driver of US inflation

Channel News Asia LogoChannel News Asia1w ago

Fed chief says pandemic aid not primary driver of US inflation

Quick Summary

WASHINGTON: Federal Reserve Chair Jerome Powell on Thursday (Jun 23) downplayed the idea that government pandemic aid was the key factor fuelling US inflation, instead blaming a confluence of global issues including the war in Ukraine.

Opposition Republicans have blamed President Joe Biden's US$1.9 trillion American Rescue Plan approved last year for the blistering price increases.

But Powell, who was testifying Thursday before a House committee, and others have noted that inflation is a global issue.


More Pictures

Fed chief says pandemic aid not primary driver of US inflation - Channel News Asia (Picture 1)

or

Article Details

Category: Economy

Topics: Price Months Moves Demand Supply Noted Inflation Mediacorp Powell Strong Factor

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-24, 01:37:00

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 4 minutes read

Article Length: 559 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 6235

View Article Analysis

About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 23 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

BEAMSTART brings you the latest news, jobs, and events from all around the world on startups, technology, and business. Stay updated with industry news, plug-in to exciting events, and discover incredible career opportunities with the world's most innovative companies.

© Copyright 2022 BEAMSTART. All Rights Reserved.