Fed Chief Says Inflation Is Too High; Board ‘Moving Carefully’ on Monetary Policy

Federal Reserve Chairman Jerome Powell said, as he addressed the New York Economic Club in New York on Thursday, that inflation remains too high, but bringing it down to the Fed’s target level of 2 percent will likely require a slower-growing economy and job market. Mr. Powell indicated the Federal Reserve Board will be “moving carefully” with monetary policy going forward in the near future.