Powell says Fed will keep raising interest rates to bring inflation down
Federal Reserve Chair Jerome Powell on Tuesday said he would back interest rate hikes until the inflationary pressure starts falling back toward a healthy level
By Arghyadeep Dutta
Published - May 17, 2022, 04:35 PM ET
Last Updated - Feb 28, 2024, 07:25 AM EST
• Fed Chair Powell said he would back rate hikes until prices fall back to healthy level
• Central bank’s 2% inflation target would come at the expense of 3.6% unemployment rate
Federal Reserve Chair Jerome Powell on Tuesday said he would back interest rate hikes until the inflationary pressure starts falling back toward a healthy level.
“If that involves moving past broadly understood levels of neutral, we won’t hesitate to do that,” Powell told The Wall Street Journal in a live-streamed interview.
