Chair Jerome Powell said Monday that the Federal Reserve would raise its benchmark short-term interest rate faster than expected, and high enough to restrain growth and hiring, if it decides that this would be necessary to slow rampaging inflation.
Jerome H. Powell, the chair of the Federal Reserve, voiced worry about inflation expectations and declared the central bank ready to do what it takes to control rapid price increases.
Federal Reserve Chairman Jerome Powell on Monday said that the central bank will not hesitate to raise interest rates at a faster than typical pace to curb inflation.
Federal Reserve Chairman Jerome Powell said Monday the central bank is prepared to more aggressively raise interest rates if policymakers conclude that doing so is warranted to bring down the hottest inflation in four decades.
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