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Powell vows that the Fed is 'acutely focused' on bringing down inflation

CNBC Finance LogoCNBC Finance2 mo ago

Powell vows that the Fed is 'acutely focused' on bringing down inflation

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Federal Reserve Chairman Jerome Powell on Friday reiterated the central bank's commitment to bringing down inflation.

Inflation has been soaring over the past year, with the consumer price index in May posting an 8.6% increase over the past year.

Fed officials target 2% inflation as healthy for a growing economy and have said they will continue raising rates until prices return to that range.


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Author / Journalist: https://www.facebook.com/CNBC

Category: MarketsFinanceInvesting

Topics: Breaking News: Economy Federal Reserve Bank Breaking News: Markets Prices Cnbc Economy Inflation Interest Rates Markets US: News Breaking news The Fed Source:tagname:CNBC US Source Articles US Economy Jerome Powell

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-17, 12:57:50

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Reading Time: 3 minutes read

Article Length: 518 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 445

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About CNBC Finance

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Main Topics: MarketsFinanceInvesting

Official Website: cnbc.com

Update Frequency: 3 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 16h ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

News Language: English

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Publisher ID: #6

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