Fed Chairman Powell Says Inflation Can Be Controlled Without ‘Very High Social Costs’

Federal Reserve Chairman Jerome Powell, said on Sept. 8, that the central bank remains “strongly committed” to fighting inflation, but he still believes it can be tamed without the “very high social costs” as in past attempts to control prices.
Powell was interviewed in a 40-minute webcast by Cato Institute President Peter Goettler, as the central bank attempts a “soft landing” for the economy in the worst inflation crisis since the early 1980s.
The Fed since March has raised interest rates to a range between 2.25 and 2.5 points.
Powell reconfirmed that the central bank is totally committed to bringing down the highest inflation rates in 40 years, in order to prevent the economic situation from hitting a 1970s-style crisis….

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