Powell’s warning: Fed to tighten credit faster than expected

Powell’s warning: Fed to tighten credit faster than expected

By CHRISTOPHER RUGABER
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell took a sharp and unexpected turn Tuesday toward tightening credit for consumers and businesses in the face of mounting concerns about high inflation.
Powell signaled that the Fed will likely act more quickly to phase out its ultra-low-interest rate policies even as the emergence of the new omicron variant of COVID-19 has…

View On WordPress