Powell says Fed will fix inflation, calls price stability ‘bedrock’ of economy

May 13, 2022 7:22 AM

WASHINGTON (REUTERS) – Calling stable prices the”bedrock” of the economy, Federal Reserve Chair Jerome Powell said on Thursday (May 12) the US central bank’s battle to control inflation would “include some pain” as the impact of higher interest rates is felt, but that the worse outcome would be for prices to continue speeding ahead.

Source : https://www.straitstimes.com/business/economy/powell-says-fed-will-fix-inflation-calls-price-stability-bedrock-of-economy