Powell takes Fed chair as economy starts to show strain
He plans to continue gradual retreat from stimulus campaign, and markets have taken him at his word
Add BT as a preferred source
Washington
JEROME H Powell, who was sworn in on Monday as the US Federal Reserve's 16th chairman, is stepping into his new role as a half-decade of economic tranquility is beginning to show some signs of strain.
The Fed has gradually been increasing interest rates to maintain control of inflation, and markets are starting to notice. Stock prices fell on Friday as investors contemplated higher rates with a tightening labour market.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Real estate firm Ohmyhome’s journey over the past 10 years
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
