POWELL TO GET MORE AGGRESSIVE ON INFLATION?

Investors are betting that newly renominated Federal Reserve chairman Jerome Powell will need to step up the pace at which the central bank is normalising monetary policy to better grapple with surging consumer prices, writes David Randall for Reuters. “For months, Powell has insisted the current bout of inflation is likely to be transitory, and said the central bank will be ‘patient’ in deciding when to begin raising its benchmark rate. Some investors, however, believe the Fed will need to taper faster and raise rates sooner to tame rising consumer prices.