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MNI BRIEF: Fed’s Powell Says Inflation Decline Will Be Bumpy

(MNI) WASHINGTON

The inflation fight is far from over because price pressures are too elevated for the Federal Reserve’s liking, Chair Jerome Powell said Wednesday.

“The process of getting inflation back down to 2% has a long way to go and is likely to be bumpy,” Powell said. “Inflation has moderated somewhat since the middle of last year, but the strength of these recent readings indicates that inflation pressures continue to run high.” (See MNI INTERVIEW: Americans' Top Concern Remains Inflation-Umich)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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