Federal Reserve Chair Jerome Powell delivered highly anticipated remarks at an Economic Club of New York luncheon on Thursday, arguing that inflation is "still too high" and warning additional monetary policy tightening may be needed.
Powell noted that shorter-term measures of core inflation over the most recent three and six months are now running below 3 percent but cautioned these shorter-term measures are often volatile.
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Business News
August 21, 2026 14:42 ET The minutes of the latest policy meeting of the Federal Reserve, housing market data and manufacturing sector survey results were the main news for the U.S. economy this week. In Europe, inflation data from the U.K. was the highlight, while consumer price data from Japan drew attention in Asia.