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Fed Chair Jerome Powell: We Will Not Hesitate To Keep Raising Rates Until Inflation Comes Down
Summary: Federal Reserve Chair Jerome Powell told The Wall Street Journal in a livestreamed interview, “We will go until we feel we’re at a place where we can say financial conditions are in an appropriate place, we see inflation coming down. We’ll go to that point. There won’t be any hesitation about that”. Earlier this month, ...
Federal Reserve Chair Jerome Powell told The Wall Street Journal in a livestreamed interview, “We will go until we feel we’re at a place where we can say financial conditions are in an appropriate place, we see inflation coming down. We’ll go to that point. There won’t be any hesitation about that”.
Earlier this month, the Fed raised benchmark borrowing rates by half a percentage point, the second increase of 2022 as inflation runs around a 40-year high. The Fed chairman repeated his hope that the central bank can curtail high inflation without spurring a large rise in unemployment.
Powell said he wasn’t at odds with those who believe the Fed faces a difficult path toward achieving what is known as a “soft landing,” in which growth slows enough to bring down inflation without triggering a recession.
By Amy Liu
Tags: Fed,inflation,Jerome Powell,Rates
Link: Fed Chair Jerome Powell: We Will Not Hesitate To Keep Raising Rates Until Inflation Comes Down [Copy]
