![]() ![]() labor market as “very, very robust.”Īs workers press for better salaries to keep pace with the higher cost of living, businesses often pass along those extra labor costs by raising prices, potentially leading to a wage-price spiral - a central banker’s worst nightmare. Powell noted that there are 1.7 job openings for every unemployed person in the U.S., while Bailey described the U.K. Powell, Lagarde and Bailey stressed the strong jobs market was a driver of inflation, which has shifted from the prices of energy and goods to the service sector. “We have to be resolute and decided and determined in reaching the target that we have set.”ĭespite rapid rate increases, Powell said “the bottom line is that policy hasn’t been restrictive enough for long enough.” “I think we have to be as persistent as inflation is persistent,” Lagarde said during the talk at the ECB’s annual policy conference in Sintra, Portugal. Interactive Pregnant Lopunny by ShaneTheRaccoon-Dog - Fur Affinity dot net ShaneTheRaccoon-Dog Dream Traveler/Time Sweeper Caution: If you don’t like pregnancy expansions, then you probably shouldn’t have browsed the Pregnancy (Tame) genre But seriously though, if this isn’t you bag of tea, turn back. Federal Reserve Chair Jerome Powell, European Central Bank President Christine Lagarde, Bank of England Gov. ![]() The message was that borrowing costs would stay high until the inflation beast is subdued, according to a panel discussion with U.S. FRANKFURT, Germany (AP) - Leading global central bankers asserted Wednesday that they are not backing off their steep interest rate increases, pointing to inflation being more persistent than expected but still downplaying fears of recession from their hikes. ![]()
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