Jerome Powell actually said...

What needs to change is we need to get inflation under control so that interest rates can come back down.

Emphasizing the need to control inflation to lower interest rates.

03/07/2023

More Jerome Powell Quotes

While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, they will also bring something to ...

I don't think that a recession is inevitable.

It is certainly an important indicator.

It is a very important sector of the economy for the reasons you point out.