Why Powell Still Sends Dovish Messages Under Escalating Inflation?
The latest Consumer Price Index (CPI) released by the U.S. reached a 13-year high at 5.4%, indicative of the severe inflation in the country. However, Powell noted that tightening monetary policies was not urgent because of the transient inflation in the hearing of the House of Representatives, thus indicating that taking actions to suppress inflation too early would be a mistake. In addition,...