Driving US inflation down will involve 'some pain': Powell

Agence France-Presse

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="A shopper loads her groceries in the parking lot of Restaurant Depot in Alexandria, Virginia, USA, 13 April 2022. Consumer prices have climbed 8.5 percent for the year ending in March, the highest since 1981. Shawn Thew, EPA-EFE" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2022/overseas/05/13/20225013-us-grocery-shopper-epa.jpg"/><figcaption>A shopper loads her groceries in the parking lot of Restaurant Depot in Alexandria, Virginia, USA, 13 April 2022. Consumer prices have climbed 8.5 percent for the year ending in March, the highest since 1981. <em>Shawn Thew, EPA-EFE</em></figcaption></figure></div><p>WASHINGTON - Bringing US inflation down from current sky-high levels will mean inflicting some pain on Americans, Federal Reserve Chair Jerome Powell saiid.</p><p>Powell repeated his confidence that the Fed has the tools to cool the economy, but renewed his warning that &quot;the process of getting inflation down to two percent will also include some pain.</p><p>In an interview with Marketplace, he said, &quot;The most painful thing would be if we were to fail to deal with it.&quot;</p><div><em>More details to follow.</em></div><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/05/22/us-fed-makes-biggest-rate-increase-since-2000-to-fight-inflation">US Fed makes biggest rate increase since 2000 to fight inflation</a></li>	<li><a href="https://news.abs-cbn.com/amp/business/05/12/22/global-stocks-slump-on-alarm-over-us-inflation">Global stocks slump on alarm over US inflation</a></li>	<li><a href="https://news.abs-cbn.com/business/02/21/22/bsp-has-room-to-maneuver-keeps-an-eye-on-fed-diokno">Bangko Sentral has &#x27;room to maneuver&#x27;, keeps an eye on Fed: Diokno</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1930620" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Bringing US inflation down from current sky-high levels will mean inflicting some pain on Americans, Federal Reserve Chair Jerome Powell saiid.

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Driving US inflation down will involve 'some pain': Powell

Driving US inflation down will involve 'some pain': Powell

Agence France-Presse

Published May 13, 2022 08:22 AM PHT

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US

inflation

US Federal Reserve

Jerome Powell

interest rate

interest rate hike

monetary policy

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