Is the Fed Panicking or Bluffing?

Federal Reserve Board Chair Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill, in Washington on Jan. 11, 2022. Brendan Smialowski/Pool via Reuters

Commentary

The big takeaway from the annual Federal Reserve Symposium in Jackson Hole, Wyoming—in person this time after two years of staying home and staying safe—was that the Fed is serious about stopping inflation. The message to the media was firm and unified. There will be no stopping this Federal Reserve until the target of 2 percent is reached and stabilized.