Economic news
Powell: Fed will “keep pushing” until clear inflation is declining
2022.05.17 21:26
FILE PHOTO: Federal Reserve Chair Jerome Powell testifies before the Senate Banking Committee in Washington, U.S., March 3, 2022. Tom Williams/Pool via REUTERS
WASHINGTON (Reuters) – The Federal Reserve will “keep pushing” to tighten U.S. monetary policy until it is clear inflation is declining, Fed chair Jerome Powell said on Tuesday.
“What we need to see is inflation coming down in a clear and convincing way and we’re going to keep pushing until we see that,” Powell said at a Wall Street Journal event. “If we don’t see that we will have to consider moving more aggressively” to tighten financial conditions.
