Federal Reserve Chairman Jerome Powell said his commitment to controlling inflation was “unconditional.”
“The labor market is, in a sense, unsustainably hot, and the situation is far from the inflation target of the US financial authorities,” Powell said in a hearing on the House of Representatives Finance Committee yesterday. “There is a real need to regain price stability and return inflation to the target of 2%, because without it, maximum employment cannot be sustained for a period of time,” he said. Stated.
As with the Senate Banking Commission testimony the day before, he said that the soft landing of the economy was “significantly more difficult” to achieve. He said it was influenced by “multiple events in the last few months, especially the war pushing up gasoline prices.” On the other hand, he said, “I don’t think recession is inevitable.”
Fed Chair, Soft Landing “Very Difficult” -There is “Potential” for Recession (4)
Powell argued that it was possible to reduce inflation without damaging the labor market, and the authorities’ goal was not to cause unemployment, but to ease demand.
Original title:Powell Hammers Home ‘Unconditional’ Commitment to Cool Prices（抜粋）
