Fed Officials Stare Down Markets, Say Inflation Is Top Focus

The Marriner S. Eccles Federal Reserve Board building in Washington on March 16, 2022. Saul Loeb/AFP via Getty Images

WASHINGTON—U.S. Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping U.S. stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation.

“There are interactions there,” Cleveland Fed President Loretta Mester said, noting that financial market volatility can affect investor decisions and the value of the dollar does impact the U.S. economy.