Powell speech: Will use tools to get inflation back down

Joel Frank Independent Analyst

Fed Chair Jerome Powell, speaking at the Senate hearing for his renomination, reiterated on Tuesday that the Fed will use its tools to get inflation back down.

Additional Remarks:

"We now have a mismatch between demand and supply."

"If we see inflation persisting longer than expected, then we will have to raise interest rates more over time."

"We will use our tools to get inflation back down."

"We want to promote a long expansion and for that, we need price stability."

"High inflation is a threat to that goal."

"We probably remain in an era of very low interest rates."

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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