Powell gives hawkish speech at Jackson Hole

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Jerome Powell
US Federal Reserve

Monetary policy-makers have to avoid doing either too little or too much, US Federal Reserve chair Jerome Powell warned today (August 25).

Powell gave his closely watched speech at the Federal Reserve Bank of Kansas City’s economic symposium in Jackson Hole, Wyoming. He also ruled out changing the Fed’s inflation target, saying it will continue to be 2%.

“Although inflation has moved down from its peak — a welcome development — it remains too high,” Powell said. “We are prepared to raise rates

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