Published

Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’

  • Federal Reserve Chair Jerome Powell calls for vigilance in the fight against inflation, indicating that more interest rate increases may be necessary to bring inflation down to a comfortable level.
  • Powell acknowledges that progress has been made in reducing inflation, but states that it remains too high for the Fed's liking. He emphasizes the need to hold policy at a restrictive level until inflation is moving sustainably towards the Fed's 2% goal.
  • Powell cautions against both doing too little and doing too much, citing risks of allowing inflation to become entrenched or causing unnecessary harm to the economy.
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  • 64% of the sources are Center
64% Center
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