Americans don’t seem to agree very much these days, but we seem to agree on one thing: inflation is way too high. A recent Gallup poll found that concerns about inflation topped the nation’s list of economic concerns by a wide margin.
It’s also high on the Federal Reserve’s list of concerns, and Chairman Jerome Powell has promised to “use our tools” to bring inflation down. “Use our tools” in this context is a euphemism for rate hikes. But what exactly is the Fed trying to achieve with higher interest rates? And are his tools enough to get the job done?
https://www.wsj.com/articles/wish-the-fed-luck-as-it-seeks-a-soft-landing-on-inflation-unemployment-federal-reserve-jerome-powell-11649277702 Best of luck to the Fed as it aims for a soft landing on inflation