On Wednesday, the Fed raised rates again. Its chairman Jerome Powell warned that the fight against inflation would be painful for the economy.
It is possible to bring down high inflation in the United States, while maintaining a healthy labor market, US Treasury Secretary Janet Yellen said on Thursday, saying she hopes the US central bank (Fed) “will get there”.
“I think a path exists to successfully bring down inflation while maintaining (…) a strong labor market. And I very much hope that the Fed will make it happen.“said Joe Biden’s Minister of Economy and Finance. The Fed hiked rates again on Wednesday, and its chairman warned that fighting inflation would be painful for the economy.