As Federal Reserve Chairman Jerome Powell explained in surprisingly brief remarks to central bankers in August about lowering inflation, “Restoring price stability will take some time and requires using our tools forcefully to bring demand and supply into better balance,” actions that will “bring some pain to households and businesses.”
Those remarks came after the Fed announced historic back-to-back interest rate hikes of 75 basis points at its previous meetings, but before inflation reports showed continued price increases spreading through the U.S. economy, proving inflation was not being tamed by previous rate hikes aimed at slowing the economy.
On Wednesday at the Fed’s first meeting since Powell’s remarks in Jackson hole, another 75 basis point increase was announced — less than many were expecting given the failure of similar increases to start easing inflation into a downward trend — the fifth increase in 2022.
Impeach the WHOLE Biden administration !!!! They are Ruining America
7:05……..Make that “already ruined”.
Icing on the Biden Cake !!!! Set Back America BETTER policy !!!!!