finance
monthly
Personal Finance. Money. Investing.
Contribute
Newsletter
Corporate

Jerome Powell Vows To Take Action Against “Much Too High” US Inflation

On Monday, Federal Reserve Chairman Jerome Powell said he would take tough action against spiralling US inflation. He warned that, if left unaddressed, the US’ record-high inflation could jeopardise the nation’s economic recovery.

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

Powell’s vow comes less than a week after the Federal Reserve upped interest rates for the first time since 2018 in a bid to tackle inflation that is at its highest level in four decades

On Monday, Powell reiterated the position the Federal Open Market Committee made in its post-meeting statement, stating that interest rate hikes would continue until inflation is once again under control. Powell said that, if necessary, increases could be even higher than the quarter-percentage point move approved in the meeting. 

We will take the necessary steps to ensure a return to price stability,” Powell said. “In particular, if we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so. And if we determine that we need to tighten beyond common measures of neutral and into a more restrictive stance, we will do that as well.”

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