Fed's Powell Hopeful Inflation Can Be Tamed Without Pain Of Volcker Era

The Federal Reserve is "strongly committed" to fighting inflation, but there remains hope it can be done without the "very high social costs" involved in prior campaigns to control surging prices, Fed Chair Jerome Powell said on Thursday. Powell, in a 40-minute webcast interview with Cato Institute President Peter Goettler, was not asked about the U.S. central bank's policy meeting…