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Powell Says Inflation Could Pose Significant Threat To US Labor Market Over Time



(@FahadShabbir)

Powell Says Inflation Could Pose Significant Threat to US Labor Market Over Time

WASHINGTON (UrduPoint News / Sputnik – 27th January, 2022) A continuing rise in inflation could pose a significant threat to a strong US labor market over time, Federal Reserve Chairman Jerome Powell said on Wednesday.

“I think a really significant threat to further strengthening in the labor market in the form of higher participation over time is high inflation,” Powell told a press briefing.

“High inflation is taking away the benefits of some of these large wage increase that we’re seeing now.”

Powell said the labor force is not being replenished very quickly and it may continue to not happen very quickly as long as the pandemic is around but he noted the US labor market is currently strong.



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