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<blockquote data-quote="1989" data-source="post: 4801546" data-attributes="member: 10280"><p>Markets are worried that President Joe Biden’s $1.9 fiscal stimulus plan will overheat the economy and cause inflation.</p><p></p><p>Powell said that the Fed would be “patient” with higher inflation, saying it was likely to be a “one time” effect and not price gains that continue year-after-year. </p><p></p><p>Powell repeated that the Fed was a “long way” from its goals of maximum employment and stable 2% inflation.</p></blockquote><p></p>
[QUOTE="1989, post: 4801546, member: 10280"] Markets are worried that President Joe Biden’s $1.9 fiscal stimulus plan will overheat the economy and cause inflation. Powell said that the Fed would be “patient” with higher inflation, saying it was likely to be a “one time” effect and not price gains that continue year-after-year. Powell repeated that the Fed was a “long way” from its goals of maximum employment and stable 2% inflation. [/QUOTE]
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