scorecardresearchJerome Powell Signals Recession May Be Price to Pay for Crushing Inflation

Jerome Powell Signals Recession May Be Price to Pay for Crushing Inflation

Updated: 22 Sep 2022, 07:09 AM IST
TL;DR.
(Bloomberg) -- Federal Reserve officials gave their clearest signal yet that they’re willing to tolerate a recession as the necessary trade-off for regaining control of inflation.
WASHINGTON, DC - SEPTEMBER 21: U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on September 21, 2022 in Washington, DC. Powell announced that the Federal Reserve is raising interest rates by three-quarters of a percentage point.   Drew Angerer/Getty Images/AFP

WASHINGTON, DC - SEPTEMBER 21: U.S. Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on September 21, 2022 in Washington, DC. Powell announced that the Federal Reserve is raising interest rates by three-quarters of a percentage point. Drew Angerer/Getty Images/AFP