Economics
Powell Says Fed Will ‘Keep Pushing’ Until Inflation Comes Down
- Fed chair says ‘won’t hesitate’ to raise rates past neutral
- Economy strong enough to withstand tightening, Powell says
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Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will keep raising interest rates until there is “clear and convincing” evidence that inflation is in retreat.
“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 Tuesday during a Wall Street Journal live event. “If that involves moving past broadly understood levels of ‘neutral,’ we won’t hesitate at all to do that.”