The US central bank will reduce the $120bn a month support introduced to help the economy through the crisis.
The usual response to rising inflation would be a rise in interest rates, to dampen down demand.
As a result Americans are paying more for food, building materials, used cars, household products and furniture. However he said neither tapering the stimulus or raising interest rates were likely to make any difference to supply chain bottlenecks. The financial markets remained focused strongly on the question of when interest rates would rise, she added.
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