The Fed Chairman acknowledged: "Innocence"

US energy prices have soared, Fed Chairman Powell: "We really have power for oil prices"

Comprehensive US Politics News Network and "Russia today" (RT) reported that Powell, chairman of the Federal Reserve Board, said on the 23rd that he would work hard to solve the problem of domestic inflation in the United States, but he also acknowledged that energy prices such as food and oil prices soared " "Innocent".

Russian media: Fed Chairman Powell said that he has "powerless" on energy prices

Politician News Network said that Powell said at the hearing of the Senate Banking Committee that day that he expects that the price of gasoline or food grocery will not decline due to the Federal Reserve's interest rate hikes.

"We really have power for oil prices," Powell said, "Oil prices are formulated globally."

Federal Reserve Chairman Powell Information Map

RT said that Powell's latest statement argues that the new crown epidemic and the Russian -Ukraine conflict have increased inflation pressure from all over the world. He said that if it was not for Ukraine's "war", the soaring food prices would be "much lower."

Powell had previously denied the issue of Russia and Ukraine's military conflict that exacerbated American inflation. According to previous reports, at the hearing held on the morning of the 22nd, the Tennessee Republican Senator Bill Hagti asked Powell: "Considering how the inflation has deteriorated in the past 18 months, you will Is the war in Ukraine a major driving force for inflation in the United States? "In this regard, Powell explicitly replied:" No, the inflation was high before -of course before the outbreak of the Ukraine 'war "(it was high)."

According to the US government earlier this month, the inflation rate increased again in May, and the consumer price index rose by 8.6%, which is much higher than the expectations of economists, marking the fastest since December 1981 since December 1981 Inflation speed. Inflation has brought tremendous economic pressure to most American families, and they are forced to pay more fees for daily necessities such as food, gasoline and rent.

Source: Global Network/Li Shan

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