Powell says U.S. Fed will go for more aggressive rate hikes if needed to curb inflation


Source: dispatchist.com dispatchist.com

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Federal Reserve Chairman Jerome Powell said on Monday that the central bank will, if needed, move "more aggressively" to raise federal funds rate by more than 25 basis points at its policy meetings to curb inflation."The labor market is very strong, and inflation is much too high," Powell said in prepared remarks for the National Association for Business Economics'(NABE) annual economic policy conference in Washington D.The rise in inflation, meanwhile, has been "much greater" and "more persistent" than forecasters generally expected, Powell said, noting that inflation moved up "sharply" in the fall amid continued COVID-related supply disruptions and strong demand.In...