Powell warns of 'some pain' ahead as the Fed fights to bring down inflation

[NewsFeeder]

Powell warns of 'some pain' ahead as the Fed fights to bring down inflation

Fed Chairman Jerome Powell warned that he expects the central bank to continue raising rates in a way that will cause "some pain" to the economy.

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[Bullitt]

What a stupid thing to say. What does this mean? Even higher food prices or layoffs coming next?

I'm sure the pain will all just be transitory.