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Fed Chair Jerome Powell’s New Stance on Inflation

Fed Chair Jerome Powell’s New Stance on Inflation

US Federal Reserve Chairman Jerome Powell, who has got a second four-year term, now wants to retire the word ‘transitory’ for higher inflation

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Anand Adhikari
  • Dec 25, 2021,
  • Updated Dec 25, 2021 8:54 AM IST

US Federal Reserve Chairman Jerome Powell, who has got a second four-year term, now wants to retire the word ‘transitory’ for higher inflation, given US retail inflation is actually turning out to be more persistent. Powell’s new line is creating a flutter. New fund flows into India could slow down and there could be dollar outflows, too, due to higher interest rates in the US. Already, the rupee is depreciating. Hard times ahead?

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US Federal Reserve Chairman Jerome Powell, who has got a second four-year term, now wants to retire the word ‘transitory’ for higher inflation, given US retail inflation is actually turning out to be more persistent. Powell’s new line is creating a flutter. New fund flows into India could slow down and there could be dollar outflows, too, due to higher interest rates in the US. Already, the rupee is depreciating. Hard times ahead?

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ABOUT THE AUTHOR

Anand Adhikari

Anand Adhikari began his journalism career with the financial weekly Guardian Investor after completing his graduation from Delhi University and ICWA in the mid-1990s. He then moved to the Delhi bureau of  Kolkata based 'The Telegraph.'

He relocated to Mumbai, the financial capital, with the Hindustan Times Group in the late 90s.

In a career spanning two and a half decades,  Adhikari has covered financial markets, corporate sector, banking, debt market, economy, central banking, and insurance. He is currently the Managing Editor of Business Today.

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