Fed chair Jerome Powell on the necessity of a forceful response to the pandemic

Fed Chair Jerome Powell responds to questions after the decision to leave rates unchanged. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

Powell said he expects to see inflation readings tick higher in the coming months because of low prices last year during the start of the pandemic and a potential burst in consumer spending as vaccines allow the economy to reopen further. However, the spike in inflation would likely be “transient,” Powell said.

“We’re going to be patient. Expect us to wait and see and not react if we see small, and what we would view as very likely to be transient, effects on inflation,” Powell says.

Powell reiterated that the Fed would allow inflation to rise above 2% for some time.

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Видео Fed chair Jerome Powell on the necessity of a forceful response to the pandemic канала CNBC Television