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LearningFed Chair Powell says inflation is far above Fed objective; high inflation poses significant hardship; Fed strongly committed to returning to 2% goal, failure would strongly cause greater harm
ECB's Schnabel says ECB has a clear mandate of price stability, financial stability is a precondition for price stability, and vice versaFed Chair Powell says policy rate may not have to rise as far as otherwise due to tightened bank credit conditions

Darren Krett

Friday 19 May 2023

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Fed Chair Powell says inflation is far above Fed objective; high inflation poses significant hardship; Fed strongly committed to returning to 2% goal, failure would strongly cause greater harm

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