Powell: "If necessary we will make aggressive rate hikes against inflation"

High inflation is a threat to maximum employment. This was stated by Fed President Jerome Powell, assuring that the Fed will use its tools against rising prices. "If more aggressive rate hikes are needed to cool inflation, the Fed will do them. If inflation persists," and more rate hikes are needed, "we will," Powell notes. 

The economy no longer needs and no longer wants a highly expansive and accommodating policy: the time has come to move forward with respect to the pandemic emergency. Fed chairman Jerome Powell said this, underlining that the job market is "recovering incredibly quickly". However, the road to a return to "normal" for monetary policy is "long ".