Fed Chair Powell calls inflation ‘too high’ and warns that ‘we are prepared to raise rates further’

• While acknowledging that progress has been made, the central bank leader said inflation is still above where policymakers feel comfortable.
• The speech resembled remarks Powell made last year at Jackson Hole, during which he warned that “some pain” was likely as the Fed continues its efforts to pull runaway inflation back down to its 2% goal.
• A strong economy and decelerating inflation also give the Fed room to “proceed carefully” at upcoming meetings.

https://www.cnbc.com/2023/08/25/fed-chair-powell-calls-inflation-too-high-and-warns-that-we-are-prepared-to-raise-rates-further.html