U.S. Federal Reserve chair Jerome Powell is warning about the pain to come, as he uses every tool possible to halt inflation and rising costs
In his much anticipated speech, Powell warned the Fed will use its tools forcefully to attack inflation that is still nudging its highest levels in 40 years.
Even after four consecutive interest rate rises totalling 2.25 per cent, Powell says it’s not the right time to stop or pause.
Following his speech, the Dow dropped off more than 500 points.
