The US Federal Reserve expects inflation to rise in the country

The head of the US Central Bank, Jerome Powell, said that inflation is expected to rise in the country in the near future. This will be facilitated by the rise in prices for commodities and, above all, for energy carriers. Jerome Powell admitted that the Fed should have recognized the existence of such a problem as a steady rise in inflation much earlier. The Central Bank intends to use all the necessary tools to stop the rise in prices. He noted the weak pace of supply growth. The supply situation has improved somewhat, but the problems have not yet been fully resolved. Oil prices are likely to continue to rise, leading to further inflation. It is still difficult to predict what its scale will be. Inflationary pressure may cause inflationary expectations to rise. The head of the Cleveland Fed, Loretta Mester, also said that the FED is obliged to bring inflation under control. The situation in Ukraine adds uncertainty in the economic sphere.

Source: xCritical.com