Federal Reserve Chairman Jerome Powell stated on Monday that job growth should pick up in the coming months and temporary inflation pressures should ease as the economy continues to recover from the effects of the pandemic.âThe economy has displayed encouraging improvements, âMr. Powell stated in testimony prepared for delivery on Tuesday on Capitol Hill, noting progress on vaccinations and vast stimulus efforts by Congress and the Fed.Mr. Powell is set to appear before the House Subcommittee on the Coronavirus Crisis to discuss the Fedâs efforts to shore up the economy since the beginning of the pandemic.The hearing aims to focus on lessons learned by the Fed, which rolled out a blitz of extraordinary lending programs early in the health crisis. These included efforts to calm market disturbance, vanquish borrowing costs and lend money directly to some businesses and local governments. The programs wound down at the end of 2020.
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