US Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed’s target level will likely require a slower-growing economy and job market.

Powell noted that inflation has cooled significantly from a year ago. But he cautioned that the United States economy is growing faster than the Fed had expected and could continue to keep inflation elevated. As a result, the Fed chair said, it’s not yet clear whether inflation is on a steady path back to the Fed’s 2.0 per cent target.

https://jamaica-gleaner.com/article/business/20231020/fed-chair-slower-economic-growth-may-be-needed-conquer-inflation