Head of the Federal Reserve Jerome Powell said on Wednesday that inflation has increased “notably” and is seen staying elevated in the upcoming months. Much of the increase in prices can be contributed to the supply bottlenecks which are limiting how quickly production can respond to increased spending, the official noted. He warned that bottlenecks, hiring difficulties, and other constraints could cause inflation to go higher and stay there longer than expected. However, indicators of long-term inflation expectations remain broadly consistent with the Fed’s goal of 2%, Powell added, stating that the central bank will adjust its policies if those expectations move “materially and persistently” beyond the 2%. Nick Note: The Fed has two mandates…… price stability and full employment. They have achieved neither. and their misguided policies have sparked off massive inflation on the consumer level and in assets like bonds and stocks. And the job market will not recover for years. It will be known as their biggest fuck up ever.