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powell. taming inflation, powell warns, will require some painful let s get straight to the business correspondent. powell s warning really led to a jolt on wall street. that s a pretty significant drop. really spooking wall street and main street in terms of the messaging we heard here. we haven t seen a day like this in the market since mid june. every sector in the s&p closed lower today. it was a broad-based sell-off as investors parse through what the federal reserve chairman was trying on get across. he talked about the fed will not stop raising interest rates until they are confident. he said we will keep at it until we re confident the job is done. the job being lowering inflation. the the concern in the markets is that when it is all said and done, we will likely be in a very different place economically in terms of consumer spending, the labor market, and the fear is that we are much more likely heading toward a recession. every time the fed has to be more aggress

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