homeWelcome, sign in or click here to subscribe.login
     


 

 

Business


Subscriber content preview

June 22, 2022

Fed's Powell facing rising criticism for inflation missteps

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON — Federal Reserve Chair Jerome Powell won praise for his deft leadership during the maelstrom of the pandemic recession. As threats to the U.S. economy have mounted, though, Powell has increasingly struck Fed watchers as much less sure-footed.

Inflation has proved higher and far more persistent than he or the Fed's staff economists had foreseen. And at a policy meeting last week, Powell announced an unusual last-minute switch to a bigger interest rate hike than he had previously signaled — and then followed with a news conference that many economists described as muddled and inconsistent.


 
. . .


To read this story in full login or purchase a subscription.




Email or user name:
Password:
 
Forgot password? Click here.