Powell: 'Soft' economic landing may be out of Fed's control
Federal Reserve Board Chair Jerome Powell speaks during a news conference at the Federal Reserve, Wednesday, May 4, 2022 in Washington. (AP Photo/Alex Brandon)
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell, fresh off winning Senate confirmation for a second term earlier in the day, acknowledged for the first time Thursday that high inflation and economic weakness overseas could thwart his efforts to avoid causing a recession.
For weeks, Powell has portrayed the Fed's drive to raise interest rates as consistent with a so-called "soft landing" for the economy...
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