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Effective URL: https://www.wsj.com/articles/high-inflation-falling-unemployment-prompted-powells-fed-pivot-11638786601
Submission: On December 08 via api from US — Scanned from DE
Effective URL: https://www.wsj.com/articles/high-inflation-falling-unemployment-prompted-powells-fed-pivot-11638786601
Submission: On December 08 via api from US — Scanned from DE
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Magazine SECTIONS * Fashion * Art & Design * Travel * Food * Culture * Sports COLUMNS * Jason Gay SECTIONS * MLB * NBA * NFL * Golf * Tennis * Soccer Search Search Share * Facebook * Twitter * LinkedIn * Copy Link * Economy * U.S. Economy HIGH INFLATION, FALLING UNEMPLOYMENT PROMPTED POWELL’S FED PIVOT OFFICIALS HAVE LAID THE GROUNDWORK TO MORE QUICKLY END A PANDEMIC-ERA STIMULUS PROGRAM AT THEIR MEETING NEXT WEEK Watch: Powell Says Inflation Factors Will Linger ‘Well Into Next Year’ Skip Ad in 15 You may also like CloseCreated with sketchtool. Up Next CloseCreated with sketchtool. Your browser does not support HTML5 video. PlayCreated with sketchtool. Sound OnCreated with sketchtool. 0:00 / 1:28 Closed Captions InactiveCreated with sketchtool.ShareCreated with sketchtool. 0:00 Watch: Powell Says Inflation Factors Will Linger ‘Well Into Next Year’ Fed Chairman Jerome Powell discussed in a Senate hearing the factors driving continued inflation and the risk the Omicron variant poses for the economy. Photo: Al Drago/Bloomberg News By Nick Timiraos Close NICK TIMIRAOS * Biography * @NickTimiraos * Nick.Timiraos@wsj.com Updated Dec. 6, 2021 5:33 am ET Print Text 317 Your browser does not support the audio tag. Listen to article Length 2 minutes AD Loading advertisement... 00:00 / 01:45 1x This article is in your queue. Open Queue Just four weeks ago, the Federal Reserve set in motion carefully telegraphed plans to gradually wind down a bond-buying stimulus program by June. Officials are making plans to accelerate the process at their policy meeting next week, ending it by March instead. The abrupt shift opens the door to the Fed raising interest rates next spring rather than later in the year to curb inflation, marking a significant policy pivot by Chairman Jerome Powell shortly after President Biden offered him a second four-year term leading the central bank. To Read the Full Story Subscribe Sign In CONTINUE READING YOUR ARTICLE WITH A WSJ MEMBERSHIP CYBER MONDAY SALE LESS THAN US $1/WEEK View Membership Options RESUME SUBSCRIPTION We are delighted that you'd like to resume your subscription. You will be charged $ + tax (if applicable) for The Wall Street Journal. You may change your billing preferences at any time in the Customer Center or call Customer Service. You will be notified in advance of any changes in rate or terms. You may cancel your subscription at anytime by calling Customer Service. Please click confirm to resume now. 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