Fed Chair Jerome Powell says curbing inflation will cause pain. Critics say putting millions out of work is unnecessary.
In case the U.S. economy wasn't hurting enough already, the Federal Reserve has a message for Americans: It's about to get much more painful.
"I do anticipate that accomplishing price stability will require slower employment growth and a somewhat higher unemployment rate," Susan Collins, president of the Federal Reserve Bank of Boston, said Monday in a But some economists question whether crushing the job market is necessary to bring inflation to heel.
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