Economy’s solid growth could require more Fed hikes to fight inflation, says Fed’s Jerome Powell
1 year, 3 months ago

Economy’s solid growth could require more Fed hikes to fight inflation, says Fed’s Jerome Powell

LA Times  

Federal Reserve Chairman Jerome Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly — trends that could keep inflation pressures high. The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook. Powell noted that the economy has been growing faster than expected and that consumers have kept spending briskly — trends that could keep inflation pressures high. “Core” inflation, which excludes volatile food and energy prices, has remained elevated despite the Fed’s streak of 11 rate hikes beginning in March 2022.

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