Personal Finance. Money. Investing.

Jerome Powell Says Taming Inflation Is “Absolutely Essential”

Federal Reserve Chairman Jerome Powell has said that bringing down inflation is “absolutely essential” and that aggressive rate hikes may occur as soon as next month.

Posted: 22nd April 2022 by Finance Monthly
Share this article

Powell’s statements meet market expectations that the Federal Reserve will move away from its usual 25 basis point hikes and instead work quickly to tame inflation that is at its highest rate in over four decades.

In its March meeting, the Federal Reserve approved a 25 basis point move, though, in recent days, officials have stated that faster action is necessary, with consumer inflation running at an annual pace of 8.5%.

“Our goal is to use our tools to get demand and supply back in synch, so that inflation moves down and does so without a slowdown that amounts to a recession,” Powell commented. “I don’t think you’ll hear anyone at the Fed say that that’s going to be straightforward or easy. It’s going to be very challenging. We’re going to do our best to accomplish that.

“It’s absolutely essential to restore price stability [...] Economies don’t work without price stability.”

About Finance Monthly

Universal Media logo
Finance Monthly is a comprehensive website tailored for individuals seeking insights into the world of consumer finance and money management. It offers news, commentary, and in-depth analysis on topics crucial to personal financial management and decision-making. Whether you're interested in budgeting, investing, or understanding market trends, Finance Monthly provides valuable information to help you navigate the financial aspects of everyday life.
© 2024 Finance Monthly - All Rights Reserved.
News Illustration

Get our free monthly FM email

Subscribe to Finance Monthly and Get the Latest Finance News, Opinion and Insight Direct to you every month.
chevron-right-circle linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram