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High Inflation, Falling Unemployment Prompted Powell’s Fed Pivot
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Just four weeks ago, the Federal Reserve set in motion carefully telegraphed plans to gradually wind down a bond-buying stimulus program by June. Officials are making plans to accelerate the process at their policy meeting next week, ending it by March instead.
The abrupt shift opens the door to the Fed raising interest rates next spring rather than later in the year to curb inflation, marking a significant policy pivot by Chairman Jerome Powell shortly after President Biden offered him a second four-year term leading the central bank.
Read more on wsj.comAbout this in other media
Fed Prepares Faster End to Stimulus, Making Earlier Rate Increases Possible wsj.com /2 years ago
Investors Should Care About the Logic Behind the ‘Powell Pivot’ wsj.com /2 years ago
Another Powell pivot raises questions about the Fed's policy credibility cnbc.com /2 years ago
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