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INSANE: Fed chief says more pain ahead | Vintage Vibes

Jerome Powell Jackson Hole Inflation US Federal Reserve United States Wyoming
US Federal Reserve chairman Jerome Powell leaves a reception dinner at the Jackson Hole economic symposium in Wyoming on Thursday evening. On Friday he gave a highly anticipated speech in which he indicated that the Fed had to continue with tough measures to fight inflation. (Bloomberg Photo)

JACKSON HOLE, Wyoming: Taming high US inflation will inflict “pain” on American families and businesses, but failure to wrestle prices down from their current 40-year high would be even more harmful, Federal Reserve chairman Jerome Powell said on Friday in a highly anticipated speech to global policymakers.

Addressing the annual gathering of central bankers in the mountain resort town of Jackson Hole, Powell did not hold back or leave room for doubt about the central bank’s course, pledging to act “forcefully”.

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