Fed’s Powell Says Slower Economic Growth Could Be Needed To Conquer Stubbornly High Inflation
‘A few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,’ Mr. Powell says.
WASHINGTON — The chairman of the Federal Reserve, Jerome Powell, said Thursday that inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market.
Mr. Powell noted that inflation has cooled significantly from a year ago. Yet he cautioned that it’s not yet clear whether inflation is on a steady path back to the Fed’s 2 percent target.
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