No 'painless' way to defeat high inflation: Fed's Powell - DAILY THE DESTINATION

No ‘painless’ way to defeat high inflation: Fed’s Powell

New York: (Agency/Web Desk) Federal Reserve Chair Jerome Powell cautioned that conquering high US inflation will require a slowdown of the economy which will raise unemployment.

Furthermore “We have got to get inflation behind us. I wish there were a painless way to do that. There isn’t,” Powell told reporters following the central bank decision to again raise the benchmark lending rate by 0.75 percentage point.