Fed’s Powell: committed to inflation fight, not trying to trigger recession

Published by
Reuters UK

By Ann Saphir and Lindsay Dunsmuir (Reuters) – The Federal Reserve is not trying to engineer a recession to stop inflation but is fully committed to bringing prices under control even if doing so risks an economic downturn, U.S. central bank chief Jerome Powell said on Wednesday. “We are not trying to provoke, and I don’t think we will need to provoke, a recession,” Powell said at a hearing before the U.S. Senate Banking Committee, although he acknowledged that a recession was “certainly a possibility” and events in the last few months around the World had made it more difficult to reduce infl…

Read More

See also  Euro technology British police will scan people's faces to see if they're criminals, and critics say it's a massive expansion of surveillance

Leave a Reply