the staff of the Ridgewood blog
Jackson Hole Wy, Fed Chairman Jerome Powell says the US central bank is prepared to raise interest rates even further if need be until inflation is back on track at 2%. “Although inflation has moved down from its peak—a welcome development—it remains too high,” Powell said Friday at the central bank’s annual conference in Jackson Hole, Wyoming. He welcomed the slower price gains the US economy has achieved under tighter monetary policy and loosening supply constraints. However, he cautioned that the process “still has a long way to go, even with the more favorable recent readings.”
