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MNI BRIEF: Powell Says Fed Focused On Core Inflation

(MNI) Washington
USPolicyFederal ReserveStoryCentral BankBriefRegionNorth America

Federal Reserve Chair Jerome Powell Wednesday stressed to U.S. senators he is focused on bringing down core inflation, acknowledging the central bank's tools and increasing interest rates would not bring down elevated gas and grocery prices.

"We focus very much on that," Powell said, referring to core inflation. "We are focused on that which we can address."

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Federal Reserve Chair Jerome Powell Wednesday stressed to U.S. senators he is focused on bringing down core inflation, acknowledging the central bank's tools and increasing interest rates would not bring down elevated gas and grocery prices.

"We focus very much on that," Powell said, referring to core inflation. "We are focused on that which we can address."

Keep reading...Show less