17/05/2022
Federal Reserve Chairman Jerome Powell said the central bank was moving rapidly to combat inflation that is running at a 40-year high, speaking in a Tuesday interview.
“We have both the tools and the resolve to get inflation back down,” Mr. Powell said during an appearance at The Wall Street Journal’s Future of Everything Festival, adding that the Fed is tightly focused on the task. The central bank is raising interest rates as part of its most aggressive effort in decades to curb upward price pressures.
“We need to see inflation coming down in a convincing way,” Mr. Powell said. “Until we do, we’ll keep going.”
