city Powell, county Jerome county Jerome city Powell, county Jerome county Jerome

Fed promises 'unconditional' approach to taking down inflation in report to Congress

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cnbc.com

Federal Reserve officials rolled out strong language Friday to describe their approach to inflation, promising a full-fledged effort to restore price stability.

In its annual report on monetary policy – a precursor to Chairman Jerome Powell's appearance before Congress next week – the central bank promised it would launch a full effort to bring down inflation pressures running at their fastest pace in more than 40 years. «The Committee's commitment to restoring price stability — which is necessary for sustaining a strong labor market — is unconditional,» the Fed said in a report to Congress.

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