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Fed won't crash economy with interest-rate hikes: Powell

Published 11/30/2022, 02:54 PM
Updated 11/30/2022, 04:06 PM
© Reuters. FILE PHOTO: Federal Reserve Chair Jerome Powell speaks in Washington, U.S., September 23, 2022. REUTERS/Kevin Lamarque/File Photo

(Reuters) - The Federal Reserve has been "pretty aggressive" already with its interest rate hikes and won't try to crash the economy with further sharp increases just to get inflation under control faster, Fed Chair Jerome Powell said on Wednesday

"We might get rid of inflation, but at a very high human cost," Powell said at the Brookings Institution in Washington, in response to a question from a JP Morgan economist about if he would take a "shock and awe" approach to rate hikes. "I think we are in a position where the right thing to do is to move really quickly as we have, and now slow down and get to that place where we think we need to be, and by the way, there's high uncertainty around that."

Latest comments

Right. So he'll just destroy the USD instead, right? Pretty sure he knows there are literally only two options...create a devastating reset of the economy/markets or destroy the USD. That's it. There are no other options. Period.
meaning crushing the economy
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