Federal Reserve Chair Jerome Powell says he may need to make 'aggressive' interest rate hikes to com

[mystery-ak]

Federal Reserve Chair Jerome Powell says he may need to make 'aggressive' interest rate hikes to combat record-breaking inflation soaring 'too high'

    The Fed raised its benchmark interest rate by a quarter of a percent last week to between 0.25 and 0.5 percent
    Officials planned on a series of 0.25 percent increases throughout the remainder of the year that would draw rates up to 2 percent by the end of 2022
    'If we conclude that it is appropriate to move more aggressively ... than 25 basis points at a meeting or meetings, we will do so,' he said
    Talk of rate hikes comes as the consumer price index has reached 7.9 percent as of February, the highest inflation rate in four decades

By Morgan Phillips, Politics Reporter For Dailymail.Com

Published: 17:13 EDT, 21 March 2022 | Updated: 17:13 EDT, 21 March 2022

Federal Reserve Chair Jerome Powell said Monday that the central bank may need to get more 'aggressive' with interest rate hikes as inflation is 'much too high.'

The Fed raised its benchmark interest rate by a quarter of a percent last week to between 0.25 and 0.5 percent. Officials planned on a series of 0.25 percent increases throughout the remainder of the year that would draw rates up to 2 percent by the end of 2022 and to 2.75 percent next year.

'The labor market is very strong, and inflation is much too high,' Powell said in remarks for the National Association of Business Economics.

'We will take the necessary steps to ensure a return to price stability,' he said. 'If we conclude that it is appropriate to move more aggressively by raising the federal funds rate by more than 25 basis points at a meeting or meetings, we will do so. And if we determine that we need to tighten beyond common measures of neutral and into a more restrictive stance, we will do that as well.'

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https://www.dailymail.co.uk/news/article-10637159/Jerome-Powell-says-need-make-aggressive-rate-hikes-combat-high-inflation.html

[catfish1957]

I think I have used my monthly allotment of dog-chasing-tail gifs for the month.

Ahhhh...   that feeling of liquid to quench the fire. (with gasoline)

[DefiantMassRINO]

Raising interest rates will not produce, refine, transport, nor store more petroleum and natural gas.  It will cut prices by reducing demand.  Nothing reduces demand like a recession.

Outcome of Fed Policy without domestic energy policy changes:

[catfish1957]

Raising interest rates will not produce, refine, transport, nor store more petroleum and natural gas.  It will cut prices by reducing demand.  Nothing reduces demand like a recession.

Outcome of Fed Policy without domestic energy policy changes:

90% of the country has never experienced REAL stagflation.

And the financial indicators in my view see this one making the late 70's look like a cake walk.

[Kamaji]

90% of the country has never experienced REAL stagflation.

And the financial indicators in my view see this one making the late 70's look like a cake walk.

[Free Vulcan]

Nothing reduces demand like a recession.

That's how it will roll too. They will overshoot, crash, and burn.