Powell: Fed must move expeditiously and, if needed, more aggressively

“The labour market is very strong, and inflation is much too high,” Powell (file pic) said in remarks prepared for delivery to a National Association for Business Economics conference.

NEW YORK: The US central bank must move “expeditiously” to bring too-high inflation to heel, according to Federal Reserve chair Jerome Powell, adding that it could use bigger-than-usual interest rate hikes if needed to do so.

“The labour market is very strong, and inflation is much too high,” Powell said in remarks prepared for delivery to a National Association for Business Economics conference.