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‘Frustrating’ that supply chain kinks aren’t getting better By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – Federal Reserve Chairman Jerome Powell gives testimony during a Senate Banking, Housing and Urban Affairs Committee hearing about the CARES Act, in Washington, DC, U.S.A, September 28, 2021. Kevin Dietsch/Pool via REUT

(Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said it was “frustrating” that supply chain bottlenecks are not improving this deep into the recovery from the recession triggered by the coronavirus, and it appears they will persist into next year.

Speaking at an event hosted by the European Central Bank, Powell also stated that the continuing pandemic is still the main factor determining the direction of U.S.monetary policy.

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