Curbing inflation without recession not 'straightforward or easy,' Jerome Powell says

Federal Reserve Chairman Jerome Powell said it is going to be “very challenging” for the central bank to rein in inflation without triggering a recession.

Powell acknowledged during a Thursday International Monetary Fund panel that the Fed will likely have to act more aggressively than initially thought to depress the country’s soaring inflation. Consumer prices increased 8.5% in the 12 months ending in March, a faster rate of inflation at any time since December 1981.