Powell: We expect near-term upward pressure on prices

Comments from Powell:

  • We expect upward pressure on prices to be transitory and temporary
  • It will be a very, very strong year in the most likely case
  • We don’t expect too-high inflation but we have to tools to address it if necessary
  • Bond yields reflect a sense of improved economic outlook

We heard this same commentary last week at the FOMC.
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