Federal Reserve Chairman Jerome Powell speaks Wednesday to a European Central Bank forum on central banking.
The Fed and its global counterparts have been in a race to bring down inflation running at its highest level in decades not only in the U.S. but also around the world. Fed officials have approved a series of interest rate hikes and are expected to continue tightening policy until inflation gets closer to their 2% goal.
Recession fears are growing along with concerns about inflation. Multiple indicators are showing that the U.S. economy is slowing after growth declined 1.5% in the first quarter. Powell and his counterparts have said they believe they can get inflation under control without sending the economy into recession.
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LIVE: Fed Chairman Jerome Powell talks about economy and interest rates at ECB forum — 6/29/22
