US may face more inflation ‘surprise’: Fed’s Powell – Times of India

Washington: The US economy is facing an “uncertain” global environment and further inflation could face “surprises”, Federal Reserve Chairman said. Jerome Powell said on Wednesday.
“Inflation has clearly reversed over the past year, and there may be more surprises ahead,” Powell said in his semi-annual testimony to Congress.
He once again stressed that the Fed remains committed to reducing inflation – which has hit a 40-year high – with higher interest rates, but added that the world’s largest economy is “very strong and has a tight monetary policy.” In a good position to handle the policy.”