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Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’

Internashonal

Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’


Federal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.

While acknowledging that progress has been made, the central bank leader said inflation is still above where policymakers feel comfortable. He noted that the Fed will remain flexible as it contemplates further moves, but gave little indication that it’s ready to start easing up anytime soon.

“Although inflation has moved down from its peak — a welcome development — it remains too high,” Powell said in…



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