Powell: "Can't guarantee soft landing" as Fed works to control inflation

Photo by: U.S. Government Accountability Office
Photo by: U.S. Government Accountability Office

(Washington, DC) -- Federal Reserve Chair Jerome Powell is warning that reigning in soaring inflation may cause economic pain for some.

In an interview with Marketplace, Powell added that getting rising prices under control does remain his top priority. He noted that with a tight labor market driving wages up, avoiding a recession following aggressive Fed policy tightening "will be challenging."

His comments come the same day the Senate confirmed Powell for a second term at his position and a week after the Fed raised interest rates a half-a-percentage point.

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