The Fed Risks A Recession To End Inflation, As Expected

Published Friday, August 26, 2022 at: 7:22 PM EDT

At an economic policy symposium sponsored by the Federal Reserve Bank of Kansas City in Jackson Hole, Wyoming, Federal Reserve Chairman Jerome Powell said on Friday that the Federal Reserve would slow the economy to fight inflation and that it would cause “some pain” in the economy.  The top of The Wall Street Journal’s website Friday evening heralded news of a 1,000-point plunge in the Dow Jones Industrial Average of 60 stocks. The Fed chair’s remarks were bumped from the top story slot of The New York Times and The Washington Post but were page-one news.  The Fed chairman’s remarks and stock...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

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