Price stability vital for jobs, says Fed’s Powell

Seeking clarity: Powell speaks at the Economic Club of Chicago in Chicago. Trump’s tariffs will likely push up prices and constrain growth, and could put the Fed in the unenviable position of having to choose between tackling inflation and unemployment. — AFP

CHICAGO: US Federal Reserve (Fed) chair Jerome Powell again stressed the central bank must ensure tariffs don’t trigger a more persistent rise in inflation.

“Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” he said on Wednesday at the Economic Club of Chicago.