Powell says the Fed is watching for ‘clear and convincing’ signs of inflation fading.
Jeanna Smialek • May 17, 2022
Jerome Powell, the Fed chair, said the central bank is prepared to raise rates more quickly and higher if price pressures fail to fade.
Gas prices cooled down slightly in April but were still at elevated levels, while oil prices remain volatile.
Layoffs are up only minimally, and employers may be averse to shedding workers after experiencing the challenges of rehiring.
