The recent stock market mayhem won't change the Fed's plan for a series of aggressive interest rate hikes meant to curb inflation, Jerome Powell said today.
won't change the Federal Reserve's plan for a series of aggressive interest rate hikes meant to curb soaring inflation, Fed chair Jerome Powell said on Tuesday.
The nation's most influential economic policymaker says the Fed won't back down from an historic campaign to squash prices rising at the fastest pace in 40 years."What we need to see is inflation coming down in a clear and convincing way. We’re going to keep pushing until we see that,” Powell said,"If that involves moving past broadly understood levels of [the neutral interest rate], we won’t hesitate to do that.
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