Fed chair: 'We have work to do' on inflation

Federal Reserve Chairman Jerome Powell stated at the Jackson Hole symposium that the central bank's "predominant focus" must be on combating inflation. He emphasized that the Fed needs to be confident inflation is returning to its target range and indicated that further action, likely including interest rate hikes, would be necessary if this is not achieved. Powell also noted that factors like oil prices, trade tariffs, and the impact of artificial intelligence are contributing to price pressures, but expressed optimism about AI's long-term economic benefits.

FEDERAL RESERVE JEROME POWELL JACKSON HOLE SYMPOSIUM INFLATION INTEREST RATES