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© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.Asian shares bounce back, shrugging off inflation concerns
By ELAINE KURTENBACH BANGKOK©2024 GPlusMedia Inc.
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Skeptical
To be clear, Powell also said: "The question whether we can execute a soft landing or not — it may actually depend on factors that we don’t control,” the Fed chair said. “There are huge events, geopolitical events going on around the world, that are going to play a very important role in the economy in the next year or so.”
He also said that slowing inflation to the Fed's 2% annual target “will also include some pain, but ultimately the most painful thing would be if we were to fail to deal with it and inflation were to get entrenched in the economy at high levels.”
Add to that, former Federal Reserve vice chairman Roger Ferguson said last week that the "probability of a recession in 2023 is certainly very very high."
stickman1760
Shares will bounce back