Fed Chair Jerome Powell Says Inflation Still Too High

Need2Know Headlines

Federal Reserve Chair Jerome Powell spoke about the economic outlook this afternoon in New York. In his prepared remarks, Powell told the economic Forum of New York quote inflation is still too high and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down, sustainably towards our goal added that it's unclear how long it will take to get inflation to settle at the Fed's goal rate of 2%. And that slowing economic growth and softening labor conditions may be necessary to reach that goal. Powell's remarks come after the Federal Reserve Board left interest rates unchanged at its September meeting, the FED will meet next at the end of this month.