, which in turn have an impact on the federal funds rate, the benchmark rate of the central bank.
The central bank chief noted that while higher interest rates can help bring price stability under control, they will create “some pain” for both households and businesses. “Restoring price stability will likely require maintaining a restrictive policy stance for some time,” Powell stated.
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Dow sheds 400 points, stocks drop after Fed's Powell warns of more pain from inflation fightU.S. stocks tumbled Friday to session lows after Federal Reserve Chairman Jerome Powell delivered blunt remarks on the pain the U.S. inflation fight likely... No that’s not the reason why! OPEC is still killing our economy because the “green” Democrats are liars and hypocrites who don’t work for American green energy but for OPEC who pay their salaries! Powell didn’t say anything we didn’t know 18 months ago! 🙄 It’s not done yet
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