Federal Reserve Warns , No End in Sight for , Inflation and Economic Pain.<br />On August 26, Federal Reserve Chair <br />Jerome Powell said that inflation in the United States <br /> is likely to continue "for some time." .<br />On August 26, Federal Reserve Chair <br />Jerome Powell said that inflation in the United States <br /> is likely to continue "for some time." .<br />NBC reports that Powell warned of slower <br />growth, a weaker job market and continued <br />hardship for households and small businesses.<br />While higher interest rates, slower growth, <br />and softer labor market conditions will bring <br />down inflation, they will also bring some<br />pain to households and businesses, Jerome Powell, Federal Reserve Chair, via NBC.<br />While higher interest rates, slower growth, <br />and softer labor market conditions will bring <br />down inflation, they will also bring some<br />pain to households and businesses, Jerome Powell, Federal Reserve Chair, via NBC.<br />These are the unfortunate costs of reducing <br />inflation. But a failure to restore price <br />stability would mean far greater pain, Jerome Powell, Federal Reserve Chair, via NBC.<br />According to Powell, <br />people should not expect <br />the Fed to reverse its <br />monetary policy until the <br />inflation problem is solved.<br />Some policymakers have even indicated that a recession would not be enough to reverse direction if inflation hasn't reached the Fed's 2% target.<br />The historical record cautions strongly <br />against prematurely loosening policy. <br />We must keep at it until the job is done. , Jerome Powell, Federal Reserve Chair, via NBC.<br />The historical record cautions strongly <br />against prematurely loosening policy. <br />We must keep at it until the job is done. , Jerome Powell, Federal Reserve Chair, via NBC.<br />NBC reports that Ryan Detrick, chief market strategist at Carson Group, said the statement from the Fed , “took investors by surprise and hammers home how serious they are about raising rates to fight inflation.".<br />NBC reports that Ryan Detrick, chief market strategist at Carson Group, said the statement from the Fed , “took investors by surprise and hammers home how serious they are about raising rates to fight inflation.".<br />Atlanta Fed President Raphael Bostic underscored a similar message while appearing on Bloomberg TV.<br />Bostic suggested that once the central <br />bank's policy rate is 100 to 125 points higher, <br />"we should stay there for a long time."
