Federal Reserve Chairman Jerome Powell said Tuesday that the central bank will continue to raise short-term interest rates — which will likely slow economic activity — until there is “clear and convincing evidence” that inflation is coming down.
“We will go to that point and there won’t be any hesitation about that,” Powell said at a Wall Street Journal event.
In the face of inflation rates not seen since the 1980s, the Fed has ratcheted up short-term borrowing costs in an effort…
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