Jerome Powell tells senators in congressional hearing ‘elevated inflation is not the only risk we face’
During a congressional hearing, Powell signaled that while suppressing inflation remains a priority, policymakers at the Fed are now concentrating on when they choose to cut rates.
“We know that reducing policy restraint too soon or too much could stall or even reverse the progress we have seen on inflation,” he told the US Senate banking, housing and urban affairs committee. “At the same time, in light of the progress made both in lowering inflation and in cooling the labor market over the past two years, elevated inflation is not the only risk we face.
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