Fed Chairman Walsh: Fed “zero tolerance” for continued high inflation

ON 14 JULY, FEDERAL RESERVE CHAIRMAN WALSH STATED THAT THE FED WAS “ZERO TOLERANCE” FOR CONTINUED HIGH INFLATION. COMMERCIAL INVESTMENT IS THE MOST PROMINENT FEATURE OF THE CURRENT ECONOMY. THE UNITED STATES ECONOMY IS RESILIENT AND GROWTH IS ROBUST. CONSUMPTION GROWTH IS MODERATE AND THE HOUSING MARKET CONTINUES TO LAG BEHIND. AI OPPORTUNITIES POSE CHALLENGES FOR POLICYMAKERS. THE IMPACT OF AI ON INFLATION AND THE LABOUR MARKET IS BEING MONITORED. THE LABOUR MARKET IS GENERALLY STABLE AND NOMINAL WAGES ARE GROWING STEADILY。