[ad_1]
CNN
—
At a think tank conference Thursday, Federal Reserve Chairman Jerome Powell reiterated his pledge to stay the course on the central bank’s aggressive inflation-busting policy.
“The Fed has, and accepts, responsibility for price stability,” he said at the Cato Institute’s 40th Annual Monetary Conference. “We need to act right now — forthrightly, strongly.”
As he had at his uncharacteristically brief speech at the Fed’s annual Jackson Hole symposium last month, Powell reaffirmed a commitment to a hawkish policy stance. The Fed chair is trying to temper expectations among consumers and businesses that prices would continue to rise, which could trigger changes in spending, earning and investing habits that could be hard to undo.
“The public had really come to think of higher inflation as the norm” in the 1970s, Chair Powell said, following what he…
[ad_2]
