Powell: Another Unusually Large Hike Depends on Data

Powell: Another Unusually Large Hike Depends on Data

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The transcript discusses the Federal Reserve's efforts to address high inflation and maintain economic stability. It highlights the resilience of the economy, the need to reduce inflation to a 2% goal, and the tight labor market. The FOMC has raised interest rates and plans further increases to manage inflation. Economic indicators show slowed growth, but demand remains strong. The Fed is committed to its mandate of maximum employment and stable prices, acknowledging the challenges and uncertainties in the current economic environment.

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7 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's primary goal in raising interest rates?

To decrease unemployment

To boost the housing market

To stabilize prices and control inflation

To increase consumer spending

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which sector has shown signs of weakening due to higher mortgage rates?

Housing

Healthcare

Manufacturing

Technology

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the 12-month change in the Consumer Price Index in June?

9.1%

6.3%

5.9%

4.7%

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve's target inflation rate?

3%

5%

2%

4%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Federal Reserve looking for in the coming months to adjust their policy?

Increased consumer spending

Compelling evidence of inflation decreasing

Higher employment rates

Stronger housing market

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important for the Federal Reserve to be flexible in its monetary policy?

To keep interest rates low

To ensure rapid economic growth

To quickly respond to unexpected economic changes

To maintain high employment rates

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What might be a necessary outcome to restore price stability according to the Federal Reserve?

Rapid job creation

Increased consumer spending

Below trend economic growth

Higher inflation rates