Jerome Powell: US Fed could keep lifting rates sharply ''for some time''
Updated: 27 Aug 2022, 09:29 AM IST
TL;DR.Powell acknowledged that the Fed's continued tightening of credit will cause pain for many households and businesses as its higher rates further slow the economy and potentially lead to job losses.
Federal Reserve Chair Jerome Powell smiles and walks after his speech at the central bank's annual symposium at Jackson Lake Lodge in Grand Teton National Park Friday, Aug. 26, 2022. in Moran, Wyo. (AP Photo/Amber Baesler)