Powell: Global economy is in a ‘new world’ ...Middle East

Federal Reserve Chairman Jerome Powell in a Wednesday speech said the global economy has entered a “new world” when it comes to inflation, while insisting the Fed would stick toward its goal of keeping inflation at a 2 percent annual hike. Powell said the low inflation era after the 2008 crisis is over and that new economic forces have led to higher inflation, creating challenges for the world’s central banks. “The last 10 years were, so far, the height of the disinflationary forces that we’ve faced, and really it goes back to before the global financial crisis, but since the global financial crisis, we’ve had very low inflation in the United States,” Powell said at a central bankin

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