Reported about 2 months ago
In a recent address, Federal Reserve Chair Jay Powell emphasized the importance of inflation expectations for maintaining price stability. He noted that fluctuations in gas prices significantly influence public perception of inflation, highlighting the need for a transition to electric vehicles (EVs) as a potential solution. However, industry shifts towards EVs, like Ford's recent decision to invest in hybrids instead, indicate that this transition may take longer than anticipated. Powell's stance suggests that a stable energy policy could ultimately support better monetary policy outcomes.
Source: YAHOO