Fed’s Powell Aims for ‘Soft Landing,’ Confirms 50-Basis-Point Hike on the Table in May

U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled "The Semiannual Monetary Policy Report to the Congress", in Washington, on March 3, 2022. Tom Williams/Reuters

Federal Reserve Chair Jerome Powell says it is “absolutely essential” to trim inflation while also accomplishing a “soft landing.”

Powell participated in an event as part of the International Monetary Fund’s (IMF) Debate on the Global Economy, which also featured IMF managing director Kristalina Georgieva and European Central Bank (ECB) president Christine Lagarde.