November 17, 2021
Economy

US Fed expected to stand its ground despite rising inflation

A spike in used car prices has fueled much of the sharp increase in US inflation and complicated the Federal Reserve’s policy deliberations.

WASHINGTON: Even in the face of rising inflation, the lacklustre progress on restoring jobs lost during the pandemic means the US Federal Reserve is unlikely to budge on monetary policy when it meets next week.

Central bank chief Jerome Powell has made it clear the Fed will hold the line on its massive bond buying programme and rock-bottom lending rates until data reflect lasting improvement in employment across all economic strata.

But the recent surge in inflation in the world’s largest economy is ramping up the pressure on policymakers to begin to pull back on stimulus programs.

Hints of…

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