US Federal Reserve Chairman Kevin Walsh said while attending the US House Financial Services Committee hearing on the 14th that high inflation has become an excessive burden on American households and businesses. The Federal Reserve is committed to stabilizing prices, and there is still a lot of work to be done in this regard. Walsh said that long-term inflation trends largely depend on monetary policy. Federal Open Market Committee members will not tolerate continued high inflation and are committed to stabilizing prices. In response to questions from members of Congress, Walsh said that what the Federal Reserve needs to do is prevent short-term changes in specific commodity prices from spreading outward. In the future, the Federal Reserve will need to make “major adjustments” to its policy, and will discuss the scope and timing of using price control tools.

US Federal Reserve Chairman Kevin Walsh said while attending the US House Financial Services Committee hearing on the 14th that high inflation has become an excessive burden on American households and businesses. The Federal Reserve is committed to stabilizing prices, and there is still a lot of work to be done in this regard. Walsh said that long-term inflation trends largely depend on monetary policy. Federal Open Market Committee members will not tolerate continued high inflation and are committed to stabilizing prices. In response to questions from members of Congress, Walsh said that what the Federal Reserve needs to do is prevent short-term changes in specific commodity prices from spreading outward. In the future, the Federal Reserve will need to make “major adjustments” to its policy, and will discuss the scope and timing of using price control tools.