Despite inflation that is “a cause for concern” and the rise of the delta variant of the coronavirus, the central bank will begin removing its support for the economy later this year, Federal Reserve Chairman Jerome Powell said Friday in virtual remarks at the Fed’s annual symposium.
Powell’s address comes as millions of Americans are still out of work, prices are rising for everything from steaks to SUVs, and spiking cases of the highly contagious delta variant continue to have a negative impact on businesses and travel.
