Fed's Powell: Biggest Mistake Would Be to Fail to Control Inflation, Jerome Powell Warns

Federal Reserve Chair Jerome Powell emphasized the importance of controlling inflation, stating that the biggest mistake would be to fail to do so. He mentioned that the Fed is considering whether it needs to take further action and how long to keep rates high. Powell also highlighted the risk of significant tightening in financial conditions from higher bond yields but noted that there is no direct line from there to a policy response.