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Powell Sees Liftoff of Fed Rate in March as Ukraine Fogs 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.

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Powell Sees Liftoff of Fed Rate in March as Ukraine Fogs Outlook

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  1. 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

  2. Financial markets have been reeling ever since Russia initiated the invasion of Ukraine, causing the price of energy to skyrocket amidst growing tensions that cast an uncertain shadow on growth across the globe. The interest rate futures markets for a quarter-point interest rate increase are fully priced at the meeting on March 15th-16th, from the current levels being close to zero and with many Fed officials talking about invasion but have said that there is still inclined to act. Bloomberg News reports that Powell’s remarks have done little to alter the market convictions. The interest rate futures have continued to price about five rate increases in 2022 beginning this month. The hike in March will mark the first hike in rates since 2018. The yields from US Treasury dropped a little following Powell’s remarks. You can read the full content: https://businessupside.com/2022/03/02/powell-sees-liftoff-of-fed-rate- in-march-as-ukraine-fogs-outlook/ -------------------------- Business Upside Email ID: support@businessupside.com Phone No.: +1-425-605-0775 Visit Us: https://www.businessupside.com/ Stay Connected Via: https://www.facebook.com/businessupside https://www.youtube.com/channel/UCuSkeS5oU- B2tRIBDYntmaw https://twitter.com/BusinessUpside1

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