Fed Chairman Said the Economic Restart will Raise Prices
Fed Chairman Powell said at the Wall Street Journal forum that the economic restart will bring upward pressure on prices, but said that rising inflation will only have a one-time impact. As for the recent bond market volatility that has attracted his attention, because tighter financial conditions will cause the market to worry, it is reiterated that the Reserve Bureau will remain patient before changing its policy. However, after Powell’s speech, the market saw the continued rise in U.S. long-term bond interest rates, the pressure on U.S. stocks, and the strengthening of the U.S. dollar. Obviously, the remarks failed to alleviate market-related concerns.
Number of New Unemployment Claims in the United States Rose Last Week
The number of new jobless claims in the United States rose to 745,000 last week, slightly lower than market expectations of 750,000, an increase of 9,000 on a weekly basis. During the period, the number of people who continued to claim unemployment benefits was 4.295 million, a weekly decrease of 124,000, which was lower than market expectations of 4.3 million. The number of unemployed people in the United States continues to be high, which is expected to be mainly dragged down by the recent southern cold snap and restrictions on the COVID pandemic.