powell, said that the fed is committed to getting inflation down to 2% annual growth. take a listen. to accomplish that, we think we will need to do two things in particular. to achieve a period of growth below trend, and some softening and labor market conditions to foster a better balance. to fix inflation, you need to slow down growth on the job market? how do you do that without hurting more people? there are two ways to fix inflation. part of it depends on what you think is driving inflation. so, if you think what is going on right now is that there is too many people, with too much money, trying to buy too many goods, that is what economists would call a demand shock, then the way to reverse that would be to get people to spend less, and that is what high interest rates to. there is another approach to fighting inflation, and that is if you think prices are high today because of high gas prices, due to putin invading ukraine, due to snarled global
move to try and get inflation under control? that s what investors are hanging up to. up at at the open 155 points. we await 2:00 p.m. eastern today. dana: what can we expect from the fed this afternoon, edward? here is what we know now. the construction vacuum truck is back right next to me. we also know interest rates on credit cards will go up. adjustable rate mortgages will be adjusted up. the cost of a new loan for a house or car will go up. at the last federal reserve meeting in jackson hole last month the chairman warned americans what to expect. it is important to hear his words. license. while higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses. these are the unfortunate costs of reducing inflation. so the last fed chairman to make that kind of warning for
reducing inflation is likely to require a sustained period of below trend growth. there will likely be softening of labor market conditions. while higher interest rates, slower growth and softer stlaib market conditions will bring down inflation, they will also bring pain to households and businesses. i think the pain he means is higher costs of everything. the thing people are wrestling with, with high inflation and wages coming down. do i feed my flame this month? and rent has gone up like crazy during this inflationary period. if you have the cash, it s pushing people into buying. you were upset larry kudlow took some of your thunder. i put it in my notes. larry is calling for a crash in
reducing inflation is likely to require a sustained period of below trend growth. there will likely be softening of labor market conditions. while higher interest rates, slower growth and softer stlaib market conditions will bring down inflation, they will also bring pain to households and businesses. i think the pain he means is higher costs of everything. the thing people are wrestling with, with high inflation and wages coming down. do i feed my flame this month? and rent has gone up like crazy during this inflationary period. if you have the cash, it s pushing people into buying. you were upset larry kudlow took some of your thunder. i put it in my notes. larry is calling for a crash in
reducing inflation is likely to require a sustained period of below trend growth. there will likely be softening of labor market conditions. while higher interest rates, slower growth and softer stlaib market conditions will bring down inflation, they will also bring pain to households and businesses. i think the pain he means is higher costs of everything. the thing people are wrestling with, with high inflation and wages coming down. do i feed my flame this month? and rent has gone up like crazy during this inflationary period. if you have the cash, it s pushing people into buying. you were upset larry kudlow took some of your thunder. i put it in my notes. larry is calling for a crash in