Author: Lindsay Dunsmuir
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Powell: Fed needs independence to fight inflation, should avoid social policy
By Lindsay Dunsmuir and Howard Schneider STOCKHOLM (Reuters) -The Federal Reserve’s independence from political influence is central to its ability to battle inflation, but requires it stay out of issues like climate change that are beyond its congressionally established mandate, Fed Chair Jerome Powell said on Tuesday. “Restoring price stability when inflation is high can…
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Inflation fighting central bankers air climate role doubts
By Francesco Canepa and Lindsay Dunsmuir STOCKHOLM (Reuters) -Some of the world’s top central bankers aired concerns about being expected to tackle climate change as well as tame inflation on Tuesday, with Federal Reserve chief Jerome Powell saying the U.S. central bank needed to stay out of politics. “We should ‘stick to our knitting’ and…
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U.S. firms show first hints of impact of Fed’s policy tightening, survey shows
By Lindsay Dunsmuir (Reuters) – The economy in the majority of regions in the United States expanded at a modest or moderate growth pace from April through late May and there were signs that the Federal Reserve’s actions to cool demand were beginning to be felt, a Fed report showed on Wednesday. The latest temperature…
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U.S. firms battle higher inflation and worker shortages, Fed survey shows
By Lindsay Dunsmuir and Ann Saphir (Reuters) -The U.S. economy expanded at a modest-to-moderate pace in October and the first half of November while firms grappled with rising inflation and a scramble to fill jobs amid labor shortages, a survey conducted by the Federal Reserve showed on Wednesday. “Prices rose at a moderate to robust…
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U.S. economy grew at “modest to moderate” rate: Fed’s Beige Book
By Ann Saphir and Lindsay Dunsmuir (Reuters) – The U.S. economy grew at a “modest to moderate” rate in September and early October, as the latest surge of coronavirus cases crested and began to recede, the Federal Reserve said on Wednesday in its latest Beige Book compendium of reports about the economy. “Outlooks for near-term…