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Federal Reserve Chairman Jay Powell warns Americans they must expect 'SOME PAIN' amid fears of job losses as the US central bank tries to bring down crippling inflation
 - [Daily Mail, Where America Gets Its News] Fed chair Jay Powell issued warning to Americans struggling with inflation
- The medicine will bring 'some pain,' he said in an interview on Thursday
- Powell is trying to bring down inflation without triggering a recession
- That could mean job losses and pay freezes for workers
- He spoke after being confirmed for a second term as head of the central bank
- The Fed is now in the process of raising interest rates to slow borrowing and spending enough to cool off inflation
- Powell's support in Congress demonstrates that Republicans largely blame Biden's spending rather than the Fed's ultra-low interest rates and purchasing of trillions of dollars in securities
Posted by: Fred 2022-05-14 |
