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发表于 2021-2-10 02:03 PM
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Federal Reserve Chairman Jerome Powell said Wednesday that the central bank will not raise interest rates or pull back on its aggressive asset purchase program at the first signs of a strong labor market.
Powell told the Economic Club of New York that the central bank needs to “patiently” keep monetary policy accommodative by allowing a hot labor market to pull in low- and moderate-income workers that were displaced during the COVID-19 pandemic.
“At present, we are a long way from such a labor market,” Powell said.
Pointing to the January jobs report, Powell noted that there are nearly 10 million people still out of work compared to pre-pandemic levels.
The Fed chair reiterated that the central bank’s new framework prioritizes a reduction in “shortfalls” from maximum employment.
“This means that we will not tighten monetary policy solely in response to a strong labor market,” Powell clarified. |
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