Fed’s Powell says tough action is needed to fight inflation

Chairman of the Federal Reserve Jerome Powell said the central bank was focused squarely on curbing high inflation to prevent it from taking root as it did in the 1970s, bolstering expectations of a third straight rate hike from 0, 75 percentage points later this month.

“It’s really our view, and my view, that we must act now frankly, firmly, as we have done, and we must continue until the job is done,” said Mr. Powell on Thursday morning during a virtual conference hosted by the Cato Institute.


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