On the recordMarch 1, 2022
What we are trying to do is limit future prices.
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congress.govWhat we are trying to do is limit future prices.
Powell discusses the goal of controlling future price increases, not reversing past ones.
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As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.
If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.
When you significantly slow the growth of the labor force, you will slow the growth of the economy.