{"id":605156,"date":"2021-07-28T16:21:20","date_gmt":"2021-07-28T20:21:20","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=605156"},"modified":"2021-07-28T16:21:24","modified_gmt":"2021-07-28T20:21:24","slug":"fed-chairman-inflation-could-be-worse-than-expected-generous-unemployment-benefits-kept-people-from-working","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/fed-chairman-inflation-could-be-worse-than-expected-generous-unemployment-benefits-kept-people-from-working\/","title":{"rendered":"Fed Chairman: Inflation Could Be Worse Than Expected, Generous Unemployment Benefits Kept People From Working"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffed-chairman-inflation-could-be-worse-than-expected-generous-unemployment-benefits-kept-people-from-working%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=605156&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/07\/JB-scaled-1.jpg?w=1200&amp;h=800&amp;ixlib=react-9.0.3\" class=\"ff-og-image-inserted\" \/><\/div>\n<p>Jerome Powell, chairman of the Federal Reserve, said during a press conference on Wednesday that inflation could be worse than what was originally expected and that the \u201cgenerous unemployment benefits\u201d contributed to people not working.<\/p>\n<p>\u201cAs the reopening continues, bottlenecks, hiring difficulties, and other constraints could continue to limit how quickly supply can adjust, raising the possibility that inflation could turn out to be higher and more persistent than we expected,\u201d Powell said. \u201cOur new framework for monetary policy emphasizes the importance of having well-anchored inflation expectations, both to foster price stability and to enhance our ability to promote our broad-based and inclusive maximum employment goal.\u201d<\/p>\n<p>Powell also <a href=\"https:\/\/www.fxstreet.com\/news\/powell-speech-economic-effects-of-delta-variant-not-expected-to-be-very-large-202107281903\">reportedly<\/a> noted that \u201cgenerous unemployment benefits\u201d were among the factors that kept Americans from going back to work.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"8.3117647058824\">\n<p lang=\"en\" dir=\"ltr\">Fed chair Powell includes &#8220;very generous jobless benefits&#8221; among factors that have held people back from going back to work.<\/p>\n<p>\u2014 Alan Rappeport (@arappeport) <a href=\"https:\/\/twitter.com\/arappeport\/status\/1420458730009858048?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<p>The news comes as President Joe Biden faces mounting challenges to continue to advance his agenda as only \u201c45% [of Americans] judge the economy to be in good shape, while 54% say it\u2019s in poor shape,\u201d The Associated Press <a href=\"https:\/\/apnews.com\/article\/joe-biden-government-and-politics-coronavirus-pandemic-economy-only-on-ap-4dafe5b7a4adf2502280bb23b775af07\">reported<\/a>. A Politico\/Morning Consult poll <a href=\"https:\/\/news.yahoo.com\/most-voters-hold-biden-administration-153200924.html\">found<\/a> that 59% of registered voters blame the Biden administration for skyrocketing inflation.<\/p>\n<p>Other highlights from Powell\u2019s press conference include:<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"8.2302631578947\">\n<p lang=\"en\" dir=\"ltr\">Powell says it is easy to imagine school districts delaying reopening until the Delta variant wave passes.<\/p>\n<p>\u2014 Alan Rappeport (@arappeport) <a href=\"https:\/\/twitter.com\/arappeport\/status\/1420459614307561472?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"7.0545454545455\">\n<p lang=\"en\" dir=\"ltr\">Powell: Transitory does not mean price increases will reverse.<\/p>\n<p>\u2014 Sven Henrich (@NorthmanTrader) <a href=\"https:\/\/twitter.com\/NorthmanTrader\/status\/1420460094249123846?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"12.074303405573\">\n<p lang=\"en\" dir=\"ltr\">Powell just claimed <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&amp;ref_src=twsrc%5Etfw\">#inflation<\/a> moderately above 2% (meaning a cost of living that goes up instead of remains the same or goes down) is a good thing, but admitted that what we have now doesn&#8217;t qualify as moderately above, so its definitely not good if it persists, which it will.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1420466295238283265?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"10.216718266254\">\n<p lang=\"en\" dir=\"ltr\">Powell just defined the word &#8220;transitory&#8221; in a way that may surprise many people. According to Powell &#8220;transitory&#8221; <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&amp;ref_src=twsrc%5Etfw\">#inflation<\/a> means that recent large price increases will stick, but that future price increases will revert back to 2% per year at some unknown point in the future.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1420461365035216900?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"10.077639751553\">\n<p lang=\"en\" dir=\"ltr\">Powell conveniently dodged answering the question about his willingness to raise interest rates to fight <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&amp;ref_src=twsrc%5Etfw\">#inflation<\/a> even if the labor market hadn&#8217;t fully recovered. That&#8217;s because stagflation has arrived, and the <a href=\"https:\/\/twitter.com\/hashtag\/Fed?src=hash&amp;ref_src=twsrc%5Etfw\">#Fed<\/a> can&#8217;t acknowledge that predicament without making it worse.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1420459530215952385?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"12.071428571429\">\n<p lang=\"en\" dir=\"ltr\">Powell claimed that if <a href=\"https:\/\/twitter.com\/hashtag\/inflation?src=hash&amp;ref_src=twsrc%5Etfw\">#inflation<\/a> is significant, and materially above its 2% goal, that it would use its tools over time to guide inflation back down to its 2% goal. The time to attempt that has long since past, as the rate is already too far above 2% to return to that level.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1420458291621208074?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\" readability=\"5.4\">\n<p lang=\"en\" dir=\"ltr\">New all-time lows in real 10-year yields. <a href=\"https:\/\/t.co\/ftPD8CnrSx\">pic.twitter.com\/ftPD8CnrSx<\/a><\/p>\n<p>\u2014 Lisa Abramowicz (@lisaabramowicz1) <a href=\"https:\/\/twitter.com\/lisaabramowicz1\/status\/1420464850610884610?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p>\n<\/blockquote>\n<p><em>This is a developing story; refresh the page for updates.<\/em><\/p>\n<p><i><span>The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span>member<\/span><\/i><\/a><i><span>.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jerome Powell, chairman of the Federal Reserve, said during a press conference on Wednesday that inflation could be worse than what was originally expected and that the \u201cgenerous unemployment benefits\u201d &#8230;<\/p>\n","protected":false},"author":1,"featured_media":2315279,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-605156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/605156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=605156"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/605156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=605156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=605156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=605156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}