GREY:NEVDQ - Post by User
Post by
ronnie420on Sep 23, 2021 5:40am
243 Views
Post# 33903654
US economy continues to strengthen despite Delta, says Fed
US economy continues to strengthen despite Delta, says Fedhttps://www.bbc.com/news/business-58659476
The central bank said the jobs market was improving and that currently high rates of inflation remained transitory.
It said it may start reducing its emergency support for the economy "soon", but did not say when.
Half of its policymakers also projected interest rates will need to rise in 2022 from current rock-bottom levels.
The US economy has rebounded strongly this year from its pandemic lows, but there are fears Delta will derail the recovery.
The country added fewer jobs than expected in August as rising infections hit spending on travel, tourism and hospitality.
Inflation, which measures the increase in the cost of living over time, is running at 5.3% - the highest in nearly 13 years. It comes amid surging consumer demand, rising energy prices, and supply chain-related shortages
Despite this, the Federal Open Market Committee (FOMC), which sets US monetary policy, said overall indicators of economic activity "have continued to strengthen".