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鲍威尔:通胀压力超预期 但不会出现70年代式的恶性通胀

Powell: inflationary pressure is higher than expected, but there will be no 1970s-style hyperinflation.

新浪財經 ·  Jun 23, 2021 07:02

In testimony to Congress on Tuesday, Federal Reserve Chairman Colin Powell admitted that some inflationary pressures are greater and more persistent than he expected, but still not as severe as some of the most inflationary periods in U.S. History.

Questioned by a task force in the U.S. House of Representatives, Powell continued to attribute the recent surge in inflation to factors closely related to the reopening of the economy.

Powell pointed out that air tickets, hotel prices and timber prices, as well as generally soaring consumer demand, have contributed to the economic recovery. He said these factors would "sort themselves out" in the coming months.

"they do not involve a widely tightened economy, nor do they involve the factors leading to rising inflation," he told the novel coronavirus crisis subcommittee of the House of Representatives. "

He added: "what I would say is that these effects are greater than we expected and may be longer-lasting than we expected. But the latest data are very much in line with the view that these factors will weaken over time and that inflation will then fall back towards our target, which we will be watching closely. "

Republicans on the committee repeatedly put pressure on Powell to ask him whether the US economy would move towards the hyperinflation of the 1970s and early 1980s, when the inflation rate was more than 10%.

Powell replied that such a situation is "very, very unlikely".

"We believe that what we are seeing now is inflation in certain categories of goods and services, which are directly affected by this unique historical event that we have never experienced before," he said. "

Powell added that the current situation was due to "extremely strong demand for labour, goods and services" and "a bit unprepared on the supply side". He promised that the Fed would remain vigilant.

"the Fed is committed to price stability, defines what price stability is, and is prepared to use its tools to keep inflation around 2%," he said. All this shows to me what we saw in the 1970s. I don't think that's going to happen. "

The translation is provided by third-party software.


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