Message from Powell to Fight Inflation

Fed Chairman Jerome Powell stated that they are determined to reduce inflation and have plans to fight the inflation till they get "clear and convincing evidence that inflation pressures are easing and inflation is falling."

Message from Powell to Fight Inflation. Jerome Powell, Chairman of the US Federal Reserve, once again emphasized that they are determined to reduce inflation. Contrary to what has been claimed, Powell said the Fed could achieve a "soft landing" for the US economy, rather than a severe downturn. Powell, who attended the Wall Street Journal event and evaluated the Fed's policies, said that there are reasonable ways to "make a soft landing". “What we need to see is inflation coming down clearly and convincingly. We will continue to push until we see that,” Powell said, adding that financial conditions have tightened this hard for the first time in a long time. Making statements in parallel with his previous statements on the interest rate increase, Powell stated that a half-point increase in interest rates could be realized in June and July. Powell added that there must be "clear and convincing evidence that inflation pressures are easing and inflation is falling" to slow the pace of rate increases.