‘Buckle Up’ as Inflation Fight Threatens Growth, IMF Chief Warns

tweet at 3:10pm: POWELL: IN HOUSING MARKET, WE HAVE TO GO THROUGH A CORRECTION TO GET BACK TO NORMAL PRICE GROWTH tweet at 3:11pm: FED'S POWELL: SHELTER COSTS ARE GOING TO STAY HIGH FOR SOME TIME FED'S POWELL: ON SHELTER INFLATION, HAVE TO ASSUME IT WILL STAY PRETTY HIGH FOR A WHILE tweet at 3:12pm: FED'S POWELL: LIKELY RATES WILL GET TO LEVELS IN THE SEP FED'S POWELL: PATH THAT WE EXECUTE WILL BE ENOUGH TO RESTORE PRICE STABILITY FED'S POWELL: WE'VE WRITTEN DOWN PLAUSIBLE PATH FOR FED FUNDS RATE, AND ACTUAL PATH WILL BE ENOUGH TO BRING DOWN INFLATION

tweet at 2:52pm: FED'S POWELL: IN SPITE OF MODEST SUPPLY-SIDE HEALING, INFLATION HAS NOT DECREASED. tweet at 2:54pm: FED'S POWELL: IF YOU LOOK AT THIS YEAR'S INFLATION, SEE INFLATION IS RUNNING TOO HIGH FED'S POWELL: YOU DON'T NEED TO KNOW MUCH MORE THAN THAT, IS WHAT GUIDES THIS COMMITTEE tweet at 2:55pm: FED'S POWELL: I DON'T ANTICIPATE THINKING ABOUT MBS SALES IN THE FORESEEABLE FUTURE. tweet at 3:03pm: Fed's Chairman Powell: -I do not know what the odds are of a recession but we need to bring inflation down. - There is no painless solution to reduce it tweet at 3:05pm: FED'S POWELL: THINK OF PRICE STABILITY AS AN ASSET THAT DELIVERS BENEFITS TO THE PUBLIC FED'S POWELL: DELAY IN GETTING INFLATION DOWN WOULD ONLY LEAD TO MORE PAIN