In highly anticipated remarks at the Jackson Hole economic symposium on Friday, Federal Reserve Chair Jerome Powell acknowledged the central bank's efforts to combat inflation will cause "some pain" but argued a failure to restore price stability would mean "far greater pain."
Powell reiterated the Fed's resolve to bring inflation back to its 2 percent target, declaring that the "economy does not work for anyone" without price stability.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.