(Adds Powell’s prepared testimony)

WASHINGTON, July 14 (Reuters) – U.S. monetary policy will offer “powerful support” to the economy “until the recovery is complete,” Federal Reserve Chair Jerome Powell said on Wednesday in remarks that portrayed a recent jump in inflation as temporary and focused on the need for continued job gains.

Any move to pull back support for the economy, by first slowing the U.S. central bank’s $120 billion in monthly bond purchases, is “still a ways off,” Powell said in comments prepared for delivery to the U.S. House of Representatives Financial Services Committee at 12 p.m. EDT (1600 GMT).

Despite recent job gains “there is still a long way to go” in pulling millions of people from the sidelines, many of them lower-wage, Black or Hispanic workers hit hardest by the recession triggered by the coronavirus pandemic, Powell said.

Addressing concerns that inflation posed new risks of its own, Powell said the pace of price increases “will likely remain elevated in coming months before moderating,” language that indicated he saw no need to rush the shift towards post-pandemic policy. Long-term inflation expectations, he said, remained consistent with the Fed’s 2% inflation target.

U.S. Treasury yields fell after the release of Powell’s prepared testimony even though prices of factory inputs rose at a higher-than-expected pace, an indication markets construed his comments as keeping the monetary taps open.

The remarks were notable as well for excluding any mention of the Delta variant of the coronavirus as a risk to the recovery, with Powell saying the Fed expects strong upcoming job gains “as public health conditions continue to improve.”

Powell is likely to be questioned about that issue as well as the Fed’s outlook on inflation, the labor market and the economic recovery during two days of testimony in Congress.

Powell appears before the U.S. Senate Banking Committee at 9:30 a.m. on Thursday.

Faster-than-anticipated inflation and a new rise in coronavirus infections due to the Delta variant pose a potential dilemma for Powell, pulling the outlook for policy in opposite directions.

The Fed’s June meeting saw officials begin a move towards post-pandemic policy, with some of them poised to tighten financial conditions sooner to ensure inflation remains contained. Renewed coronavirus-related risks, if they materialize, could push the Fed in the other direction of keeping support for the recovery in place longer in case household and business spending wanes amid a rise in new infections.

Falling Treasury bond yields have indicated concern among investors about slowing U.S. economic growth, even as new data on prices this week showed consumers paying appreciably more for an array of goods and services, including appliances, fabric, beef and rent.

In a report to Congress last week, the Fed said that as the “extraordinary circumstances” of the reopening subside, “supply and demand should become better aligned, and inflation is widely expected to move down.”


While each month of high inflation makes it harder to stick to that conviction, Powell for now is keeping to the

Faith Academy 2022 standout Shemar James named Florida and Alabama as his top two college possibilities in early May, but the two SEC powers may not be the only schools in the running when he makes his final choice.

“I’m concentrating on those two right now,” he told AL.com this week. “They are the standard. Then I would say Auburn and Oregon are up next. Also, there is a secret, underdog school that I haven’t revealed to anyone yet.”

James, a 6-foot-3, 212-pound linebacker, wasn’t ready to reveal his “secret” school to AL.com either, only saying that the college he was referring to has a “very unique way of recruiting.”

As face-to-face recruiting reopens this week after the 15-month pandemic dead period, James already has set a list of four visits. He will travel to Tuscaloosa this weekend, Auburn June 12-14, Florida on June 18 and Oregon on June 25.

“I’m excited and a little curious about how the visits will go,” he said. “I’m just ready to see these campuses inside and out, to talk to players and see the equipment. I want to see the things I will see everyday if I choose that particular college.”

RELATED: A look at the state’s top 2022 prospects

RELATED: Recruiting business is back open

James said he is 98 percent sure he will commit before his senior season starts in August.

As a junior, he helped the Rams to the Class 5A state semifinals. He made 70 tackles, including 17 for a loss, and had seven sacks. He also rushed for 268 yards and five touchdowns and caught 35 passes for 473 yards and eight touchdowns as an offensive threat. However, college coaches have him penciled in as a defensive star on the next level.

“All of the coaches are talking to me about basically a ‘money backer’ position,” he said. “It’s a spot where you move around a lot. You cover sometimes, but obviously you stop the run, too. It’s a unique position to play as a linebacker where you have to be really versatile. That’s good for me because I want to show I can do multiple things.”

James said he would base his ultimate college decision on three things – early playing time, scheme and coaching.

Here is what he had to say about his top two:

Alabama: “Obviously, the tradition there is awesome. They seem to win a natty every other year. I have a good relationship with all the coaches there. I know they are recruiting the best of the best, but they still stay in contact we me all the time. It’s also basically an NFL factory. So many big names come out of there and go on to the NFL to be successful.”

Florida: “There are a lot of similarities. They’ve always had great players as well. Coach C-Rob (Christian Robinson) and coach (Jon) Clark are communicating with me every other day, if not every day. I’ve talked to some players there. The chemistry

When the pandemic hit last spring, Atlas Obscura had just received a $20 million investment from a group of investors led by Airbnb. Atlas Obscura, at the time, was focused on building the “experience” side of its business — guided tours and classes — which it expected to snap into the giant home rental platform. (The New York Times is also an investor in Atlas Obscura.) But Airbnb gave up on the initiative as it scrambled to weather the crisis. And like the rest of travel media, Atlas Obscura has spent a year mostly catering to the fantasies of homebound travelers. That led, the company says, to record traffic and advertising revenue, as well as a new business in online classes.

Now, the travel media and the travel industry are bracing — and hoping — for a surge of tourism. Though few in the travel media have taken on re-editing of their product like Atlas Obscura, they’re also trying to adapt to a changed political situation, seeking to find nonwhite writers who live in the places they write about, or to have more diverse American writers tell the stories of destinations. Jacqueline Gifford, the editor in chief of Travel and Leisure, said the travel media was trying to ask itself, “Who gets to tell travel stories, why they’re telling them, and what’s the way we can be more representative of this country, of the world we’re living in today?”

But there are also built-in limits to how much you can revolutionize travel writing, said Rafat Ali, the founder of the travel business site Skift.

“It’s always going to be outsiders looking in,” he said.

The challenge for editors and writers across media is how to make journalism inclusive as well as riveting and provocative, rather than just a corporate media exercise in box-checking. (One top newspaper editor described that genre to me last week as “D.E.I. dutiful,” referring to diversity, equity and inclusion initiatives.)

It shouldn’t be that hard. Complicated, surprising stories are often the best ones, as illustrated by the superb “Reckoning With a Reckoning” issue that Adrienne Green, the features editor at New York magazine, put together last week. It sought, as the magazine’s editor in chief, David Haskell, wrote in an email, “to clarify stakes and also complicate them, to tell morality tales but avoid easy morals.”

Atlas Obscura, which also publishes magaziney features like the disturbing story of how a Black woman’s remains wound up on display at a Philadelphia museum and the secret queer history of Colonial Williamsburg, is another good example of how a publisher can meet the moment by deepening its content with an inquiry into, in particular, the violence Americans often choose to forget.

Indeed, Mr. Patel told me he’s not sure “decolonizing” was the right word for the project. “Decolonization suggests removal, and that’s not what we’re doing,” he said Wednesday morning, as we began our tour of unusual New York