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Where Does the Fed Go From Here? For Jay Powell, the Only Focus Is Inflation

The Fed chair is going to do whatever it takes to stamp out rising prices, even if means causing a recession.
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Photo illustration: 731; Photos: Getty Images (2)

Let’s say you come home and there’s a gorilla sitting on the couch in your nicely appointed living room. You are partly to blame for leaving the door unlocked, but world events have also conspired to let him in the door.

You are carrying a baseball bat. But you know that getting into a fight with an unruly 300-pound beast is going to wreck the house. You try nudging him out the door without creating a lot of collateral damage, but that doesn’t work. So now it’s clear that some furniture is going to get broken.