No painless way to defeat high inflation: Fed s Powell
September 22, 2022 01:22 AM
Federal Reserve Chair Jerome Powell cautioned Wednesday that conquering high US inflation will require a slowdown of the economy which will raise unemployment.
"We have got to get inflation behind us. I wish there were a painless way to do that. There isn't," Powell told reporters following the central bank decision to again raise the benchmark lending rate by 0.75 percentage point.