Fed Chairman: Expect Pain as Inflation Persists, and Recession is Inevitable
WRITTEN BY ALICIA HOPE Federal Reserve Chairman Jerome Powell warned Americans of expected pain as the agency forcefully deals with inflation.Jerome said that higher interest rates would persist for some time as prematurely loosening policy was a dangerous move.No quick solution for inflation; expect some pain. “While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring … Continue reading Fed Chairman: Expect Pain as Inflation Persists, and Recession is Inevitable