- January 12, 2022
- Posted by: Stratford Team
- Category: Economy
Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo
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TOKYO, Jan 12 (Reuters) – The dollar slid to its weakest since mid-November against major peers on Wednesday, after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank’s $9 trillion balance sheet.
In testimony at his renomination hearing on Tuesday, Powell said the U.S. economy was ready for higher interest rates and a runoff of its asset holdings – dubbed quantitative tightening (QT) – to combat inflation. But he said policymakers were still debating approaches to reducing the Fed’s balance sheet, and that it could sometimes take two, three or four meetings for them to make such decisions. read more
Powell’s comments were less hawkish than those of some of his…
