Powell says job market will have to suffer for inflation to fall

Fed’s fight against inflation could cost 1.2 million US jobs

The data, however, does not mince words. The Fed’s latest economic projections, released on Wednesday alongside a massive third straight interest rate hike of 75 basis points, show the central bank expects the country’s unemployment rate to hit 4.4% next year. — down from 3.7% in August – and potentially up to 5%. Assuming no …

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