Fed Chair Defends Current Policy, Says He Thinks About Inflation ‘Night and Day’

Federal Reserve Board Chairman Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee in Washington on July 15, 2021. Win McNamee/Getty Images

WASHINGTON—Federal Reserve Chair Jerome Powell on July 15 expressed concern about inflation, stating that he and his colleagues are thinking about rising prices “night and day.”

Powell, however, said during a Senate Banking Committee hearing that the Fed’s easy monetary policy will continue as the jobs market recovery “is still a ways off.”