Powell: US may still need tough decisions to control inflation
The US Fed Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said Thursday that the central bank would be βresoluteβ in its commitment to its 2% mandate.
The US Federal Reserve Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said that the central bank would be βresoluteβ in its commitment to its 2% mandate. Powell says inflation is still too high and lower economic growth is likely needed to bring it down
This comes as September saw a 13-year low in existing house sales in the US due to a combination of rising mortgage rates and limited supply that made homes unaffordable for many first-time buyers.
(Picture: bananas with price tag are displayed for sale in a grocery store on October 12, 2023 in Los Angeles, California. Photo Credit: Mario Tama/Getty Images)
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