Federal Reserve Board Chairman Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington on July 27, 2022. Elizabeth Frantz/Reuters
Federal Reserve Chair Jerome Powell had a message for the U.S. economy and the financial markets: Prepare for “some pain” ahead, and higher inflation-busting interest rates are here to stay.
Powell recently delivered his much-anticipated Jackson Hole Economic Symposium speech, and his hawkish remarks disappointed investors.
