Powell hammers home inflation fight in Jackson Hole speech ...Middle East

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Federal Reserve Chairman Jerome Powell hammered home the Fed’s 2-percent inflation target on Friday amid speculation that the bank could tolerate a higher annual inflation rate in the post-pandemic economy. “It is the Fed’s job to bring inflation down to our 2 percent goal and we will do so,” he said at a gathering of central bankers in Jackson Hole, Wyo., a luxurious resort destination near Yellowstone National Park. Prices as measured in the Consumer Price Index (CPI) are now 3.2 percent higher than they were last year, having bucked up in July from a 3.1-percent annual increase in June. As measured by the personal consumption expenditures price index (PCE), prices are 3 perce

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Powell hammers home inflation fight in Jackson Hole speech ...Middle East

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