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MNI BRIEF: Powell Says Inflation To Stay High This Year

WASHINGTON (MNI)

Federal Reserve Chair Jerome Powell told reporters Wednesday the war in Ukraine could prolong supply chain disruptions and thus delay an expected decline in inflation.

“That could push out the relief we were looking for in supply chains generally,” he said. “We still expect inflation to be high this year. We expect inflation to remain high through the middle of the year, begin to come down, and then come down sharply next year.”

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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