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Driving US inflation down will involve 'some pain': Powell
Driving US inflation down will involve 'some pain': Powell
Agence France-Presse
Published May 13, 2022 08:22 AM PHT
A shopper loads her groceries in the parking lot of Restaurant Depot in Alexandria, Virginia, USA, 13 April 2022. Consumer prices have climbed 8.5 percent for the year ending in March, the highest since 1981. Shawn Thew, EPA-EFE
WASHINGTON - Bringing US inflation down from current sky-high levels will mean inflicting some pain on Americans, Federal Reserve Chair Jerome Powell saiid.
Powell repeated his confidence that the Fed has the tools to cool the economy, but renewed his warning that "the process of getting inflation down to two percent will also include some pain.
In an interview with Marketplace, he said, "The most painful thing would be if we were to fail to deal with it."
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