Powell Makes Case for Fed Curbing Inflation While Doing No Harm

(Bloomberg) — Federal Reserve Chair Jerome Powell sought to reassure lawmakers and investors on Tuesday that the central bank can pull off the tricky task of bringing down four-decade high inflation without damaging the U.S. economy.Most Read from BloombergEU Warns Repeat Boosters Could Weaken Immune SystemEurope Slowly Starts to Consider Treating Covid Like the FluCypriot Scientist Says Deltacron Covid Variant Isn’t ErrorWorld’s Worst-Performing Bank Lent Billions to China EvergrandeDjokovic A
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Federal Reserve’s Powell: High inflation ‘exacts a toll’

WASHINGTON (AP) — High inflation is taking a toll on American families, Federal Reserve Chair Jerome Powell acknowledged in remarks to be delivered at a Tuesday congressional hearing, where he is sure to face tough questions on the subject. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing, and transportation,” Powell said in prepared testimony. The Senate Banking Committee will hold a hearing on Powell’s nomina
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