Economics
Powell Focuses on 2% Inflation as Fed Vows ‘Unconditional’ Fight
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Federal Reserve Chair Jerome Powell hammered home his determination to curb the hottest inflation in 40 years as the US central bank vowed that the fight to restore price stability was “unconditional.”
“My colleagues and I are acutely focused on returning inflation to our 2% objective,” he said in welcoming remarks Friday to a Fed conference in Washington on the international role of the US currency. “The Federal Reserve’s strong commitment to our price-stability mandate contributes to the widespread confidence in the dollar as a store of value.”