Federal Reserve Chair Powell Says Inflation Severely Threatens Job Market

Federal Reserve Chairman Jerome Powell warned Tuesday that high inflation is a serious threat to the U.S. central bank’s goal of helping to get Americans back in the workplace. 

He also said the Federal Reserve will raise rates higher than initially planned if needed to slow rising prices, Just the News reports

“If we have to raise interest rates more over time, we will,” Powell told the Senate Banking Committee. “High inflation is a severe threat to the achievement of maximum employment.”