Federal Reserve Board Chair Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., July 27, 2022.
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Powell says job market will have to suffer for inflation to fall
After making history by approving a third consecutive 75-basis-point hike, Federal Reserve Chairman Jerome Powell held a press conference on the plan to get inflation down to 2%.
00:40 - Source: CNN
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Federal Reserve Board Chair Jerome Powell speaks during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, U.S., July 27, 2022.
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Powell says job market will have to suffer for inflation to fall
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A photo taken on November 17, 2023 shows the logo of US online social media and social networking service X - formerly Twitter - on a smartphone screen in Frankfurt am Main, western Germany.
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Users are quitting X. Here's where they're going
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Sheets of USD 20 bills roll through the printing press on July 12, 2012, at the US Bureau of Engraving (BEP) in Washington, DC, where the high-tech presses run 24-hours a day. The BEP is a government agency within the United States Department of the Treasury that designs and produces a variety of security products for the United States government, most notable of which is paper currency for the Federal Reserve. The BEP had its foundations in 1862 with workers signing, separating, and trimming sheets of Demand Notes in the Treasury building. With production facilities in Washington, DC, and in Fort Worth, Texas, during Fiscal Year (FY) 2011, the BEP produced approximately 23.5 million notes a day with a face value of approximately USD USD 453 million. During Fiscal Year (FY) 2011, approximately 5.8 billion notes were delivered at an average cost of 9.1 cents per note. Ninety-five percent of the notes printed each year are used to replace notes already in, or taken out of circulation. Between the Fort Worth and Washington facilities approximately 8.5 tons of ink per day were used during FY 2011. AFP PHOTO / Paul J. RICHARDS (Photo by Paul J. RICHARDS / AFP) (Photo by PAUL J. RICHARDS/AFP via Getty Images)
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