Fed chairman Jerome Powell said recently he sees an economy that “functions right through these waves of Covid-19.” Eager instead to control raging inflation, which hit a near 40-year high in December, and further tightening in the labour market, several Fed officials recently signalled interest rate rises are coming very soon.
BENGALURU: The United States Federal Reserve (Fed) will tighten monetary policy at a much faster pace than thought a month ago to tame persistently high inflation, now viewed by economists polled by Reuters as the biggest threat to the US economy over the coming year.
Encouraged by apparent lower severity of the Omicron variant, governments and central banks around the world are attempting to push their economies back into some version of normality.
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