Chairman Jerome Powell

Inflation

Powell: Fed aims to avoid recession but says it’s possible – Associated Press

Federal Reserve Chair Jerome Powell sought Wednesday to reassure the public that the Fed will raise interest rates high and fast enough to quell inflation, without tightening credit so much as to throttle the economy and cause a recession. Testifying to the Senate Banking Committee, Powell faced skeptical questions from members of both parties about

Economy

Powell: ‘Soft’ economic landing may be out of Fed’s control

Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession. For weeks, Powell has portrayed the Fed’s drive to raise interest rates as consistent with

Federal Reserve

Fed to fight inflation with fastest rate hikes in decades

The Federal Reserve is poised this week to accelerate its most drastic steps in three decades to attack inflation by making it costlier to borrow — for a car, a home, a business deal, a credit card purchase — all of which will compound Americans’ financial strains and likely weaken the economy. Yet with inflation

Inflation

Powell says Fed will hike further and faster if necessary

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 this would be necessary to slow rampaging inflation. Powell’s message was more hawkish than his comments were after last week’s Fed meeting, when officials raised

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