Fed’s Powell: High inflation poses a threat to job market
Fed’s Powell: High inflation poses a threat to job market
By CHRISTOPHER RUGABER
WASHINGTON (AP) — Warning that high inflation could make it harder to restore the job market to full health, Federal Reserve Chair Jerome Powell said Tuesday that the Fed will raise interest rates faster than it now plans if needed to stem surging prices.
With America’s households squeezed by higher costs for food, gas, rent, autos and many other items, the Fed is under…