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ios developer account:Fed officials press promise of complete recovery before u0027punch bowlu0027 disappears

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WASHINGTON -Top Federal Reserve officials continued a barnstorming effort on Thursday to tell investors and the public at large that the U.S. central bank's expansive support for the economy will stay in place until an accelerating recovery reaches all levels of American society and is effectively complete.

The Fed since August has been tuning its formal, technical language to make that point, but policymakers this week framed those promises in more colloquial terms and did so in interviews with more widely broadcast media than the financial outlets policymakers usually rely on.

In an interview with National Public Radio's "Morning Edition" program on Thursday, Fed Chair Jerome Powell said that even with the economy rebounding faster than expected, any change in monetary policy would happen "very, very gradually over time and with great transparency, when the economy has all but fully recovered."

Fed Vice Chair Richard Clarida, speaking to the Institute of International Finance, said the central bank will stay in the game until the recovery is "well and truly complete."Earlier in the week, "patience" was the byword used separately by Fed Governor Lael Brainard and San Francisco Fed President Mary Daly as to how the Fed would address economic recovery.

"We are not going to take this punch bowl away," Daly said.

If the message seems insistent, Atlanta Fed President Raphael Bostic said Thursday to reporters, it's because officials don't want any misunderstanding about their plans to support economic progress.

"We are in a transitional period right now, and I think it is important we prevent that sort of speculation from potentially undermining the momentum that we have built," Bostic said. Earlier, in prepared remarks, Bostic said he "unambiguously" did not think Fed policy should change soon, even though he has penciled in an interest rate increase in 2023, sooner than most of his colleagues.

"That is still nearly two years from now," he said.

The Fed's loose-for-a-long-time message comes at a moment when the U.S. economy could grow at its highest annual rate since 1984. While that represents a stunning comeback from fears of an economic depression triggered by the pandemic a year ago, it is raising concerns of too much of a good thing -- with the risk of too-high inflation or a financial bubble lurking and a suspicion the Fed may have to react eventually with higher interest rates.

The job market may finally be gaining traction - new claims for unemployment fell by about 100,000 for the week ending March 20 - and Clarida said there may be a return to full employment in a "relatively rapid" fashion. Fed officials have all but guaranteed higher inflation this year.

The prospect of rising inflation has prompted contrarian views from some investors betting the Fed will have to raise interest rates sooner than expected as a way to curb inflation by discouraging investment and spending.

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