Fed's Powell says restoring price stability may require unpopular policies

The US central bank will steer clear from taking on responsibilities around designing or supervising more climate-friendly policies, absent a mandate from lawmakers, its head said.

Speaking on Tuesday at a forum on central bank independence in Stockholm, Federal Reserve chairman, Jerome Powell, made few remarks touching directly on the immediate conduct of monetary policy.

He did however indicate that in order to restore price stability the Fed might have to pursue unpopular measures that slow economic growth.

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