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Federal Reserve Chairman Jerome Powell speaks at a European Central Bank Forum on Central Banking on Wednesday.
The Fed and its global counterparts are racing to bring inflation down to its highest level in decades, not only in the US but around the world. Fed officials have approved a series of interest rate hikes and expect to continue tightening policy until inflation is close to their 2% target.
Along with worrying about inflation, the fear of recession is also increasing. Several indicators are showing that the US economy is slowing after falling 1.5% in the first quarter. Powell and his counterparts have said they believe they can bring inflation under control without sending the economy into recession.
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