Fed’s Powell cautions about higher long-term rates as ‘supply shocks’ provide policy challenges

Key Points

Fed Chair Jerome Powell said Thursday that longer-term interest rates are likely to be higher as the economy changes and policy is in flux.
“We may be entering a period of more frequent, and potentially more persistent, supply shocks — a difficult challenge for the economy and for central banks,” the central bank leader said at a policy conference.
The “supply shocks” remarks are similar to those Powell has delivered over the past several weeks cautioning that policy changes could put the Fed in a difficult balancing act

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