WASHINGTON: Skittish investors have see-sawed between celebration about the expected US economic recovery and nail-biting over a possible price spiral, but the Federal Reserve is standing firm on keeping interest rates low.
In the balance between allowing faster growth — and rising prices — in order to restore some of the more than nine million jobs still missing due to the Covid-19 pandemic, Fed Chair Jerome Powell’s message has been clear: he wants to see more people back to work.
Analysts are expecting the Fed’s policy-setting Federal Open Market Committee (FOMC) to maintain its very “dovish” stance when it holds its two-day policy meeting next week. Read more…..
Chart of the Day
Mar.01 — JPMorgan Chase & Co. Chairman and Chief Executive Officer Jamie Dimon discusses the current competitive environment, the outlook for the U.S. economy and his views on returning workers to the office with Bloomberg’s Ed Hammond on “Bloomberg Markets.”