The main concern is that the Fed will end up responding too late and too aggressively to high inflation
The NBER said the economy reached its lowest point in terms of jobs and output in April 2020
Higher inflation could prove more persistent than the U.S. central bank previously indicated
The Federal Reserve may act sooner than planned to start dialing back low-interest rate policies
Escalating inflation has intensified pressure on the central bank
Many companies are struggling to find enough workers, even as the economy rapidly recovers
U.S. unemployment aid fell to a new pandemic low of 444,000 last week
The recovery of America's job market hit a pause last month
The quickening pace of growth has raised fears among some analysts that inflation could rise uncomfortably fast
Speaking to the IMF, Powell said vaccinations and rapid rehiring signal the U.S. will fully reopen soon