Fed’s Powell gets an earful about inflation and interest rates from small businesses

( ) -q-26- UNDATED (Correspondent Jeremy House) “them from expanding.”

Federal Reserve chairman Jerone Powell got an earful from small-business people during a visit to York, Pennsylvania.

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Out-cue: them from expanding]

TAG: Correspondent Jeremy House reporting. Powell traveled to York on Monday to learn about the efforts of the long-time manufacturing hub to diversify its economy.

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VERBATIM: Federal Reserve officials typically gather many of their insights and observations about the economy from some of the top Ph.D. economists in Washington. However, Powell heard from small business people who are grappling personally with inflation, high interest rates, labor shortages and other challenges of the post-pandemic economy. They told Powell they are still having trouble finding all the workers they need. Higher interest rates have discouraged some of them from expanding.