Fed’s Powell: There’s No Painless Way to Beat Inflation

Fed's Powell: There's No Painless Way to Beat Inflation

“There’s a very high likelihood that we’ll have a period of below-trend growth, by which I mean much lower growth,” Federal Reserve Chair Jerome Powell says at a news conference in Washington after Fed officials lifted the target range for the benchmark federal funds rate to a range of 3% to 3.25% — the highest since before the 2008 financial crisis.

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