“Fed vows ‘unconditional’ inflation war, says soft landing still possible”

(Reuters) -The Federal Reserve, fresh from its biggest interest rate hike in more than a quarter of a century, signaled on Friday that the rising risk of recession will not stop its battle to bring down searing inflation that’s punishing American households.

“The Committee’s commitment to restoring price stability – which is necessary for sustaining a strong labor market – is unconditional,” the Fed said in its twice-yearly monetary policy report to Congress, referring to the U.S. central bank’s rate-setting Federal Open Market Committee.

We are primarily funded by readers. Please subscribe and donate to support us!

“We’re attacking inflation and we’re going to do all that we can to get it back down to a more normal level, which for us has got to be 2%,” Atlanta Fed President Raphael Bostic told American Public Media’s Marketplace radio program. “We’ll do whatever it takes to make that happen.”



Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.