Jerome Powell Pressed Over How Fed Would Respond to Economic Slowdown

Lawmakers pressed Federal Reserve Chairman Jerome Powell over how the central financial institution would handle trade-offs it may confront if its rate of interest will increase gradual the financial system sharply however don’t cut back inflation rapidly.

Mr. Powell on Thursday mentioned that in such a situation, the Fed can be reluctant to shift from elevating charges to chopping them till it noticed clear proof that inflation was coming down in a convincing style.