Powell: US may still need tough decisions to control inflation
World Business Report
English - October 19, 2023 22:06 - 27 minutes - 12.5 MB - ★★★★ - 236 ratingsBusiness News Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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The US Federal Reserve Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said that the central bank would be “resolute” in its commitment to its 2% mandate. Powell says inflation is still too high and lower economic growth is likely needed to bring it down
This comes as September saw a 13-year low in existing house sales in the US due to a combination of rising mortgage rates and limited supply that made homes unaffordable for many first-time buyers.