Fed might have to Raise Interest Rate & More to stabilize prices -Jerome Powell

Inflation is a major challenge facing global economy at the moment. All the world economies are making use of different macro economic tools to combat this economic problem.

Federal Reserve Chair Jerome Powell and the Federal Open Market Committee are faced controlling the highest inflation in decades without tipping the economy into a recession. 

It is obvious that recession might be inevitable for most economy. In fact some countries are already technically in recession.

According to Foxbusiness.com, Powell said Tuesday in remarks prepared for delivery at a conference held by Sweden’s central bank. “Price stability is the bedrock of a healthy economy and provides the public with immeasurable benefits over time,”

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“But restoring price stability when inflation is high can require measures that are not popular in the short term as we raise interest rates to slow the economy.”

The World Bank has warned that the world is on the verge of recession, and the head of the Federal Reserve, Jerome Powell, has said that the US central bank may need to make unpleasant decisions to control inflation.

While public officials often express their displeasure of Fed operations in hushed tones, the Powell Fed has come under fire from both sides of the political spectrum.

The Fed has also asked the Major banks to assess their financial preparedness for catastrophic climate-related calamities like hurricanes and floods,

“Decisions about policies to directly address climate change should be made by the elected branches of government and thus reflect the public’s will as expressed through elections,”

Republicans in the House have previously criticized the Fed’s efforts on climate change, and they will probably use their newfound power to concentrate on the subject.