Transitory May News Today

the fed scrambling to tame prices for seven consecutive rate increases bringing interest rates to the highest level in 15 years. chairman power makes it clear that at the final meeting of the year there is more work to do and more payment had. >> you wish there was a completely painless way to restore price stability. there isnt. this is the best we can do. but i do think that the markets are confident that we will get inflation under control we are certainly highly committed to do tha...

>> what you have to take away from that clip is that jerome powell understands the importance of credibility if that is not a credible manager of inflation, then it gets out of control. it was just over one year ago that jerome powell said that transitory may not be the best way to describe the inflation problem and since then theyve raised seven times a series of 75 and most recently 50. so that is a huge increase in the fed funds rate over a relatively short period of time. and i think the sig...