Fed’s Powell confirms need to act strongly to fight inflation

Federal Reserve Chairman Jerome Powell said the central bank is entirely focused on bringing down high inflation to prevent it from becoming entrenched as it did in the 1970s.

“It’s very much our view, and my view, that we need to act bluntly, strongly, as we have done, and we need to continue to do so until the job is done,” Powell said Thursday morning at virtual conference hosted by the Cato Institute.

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