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Federal Reserve Chair Admits His Confidence Is Rattled as Wholesale Inflation Unexpectedly Surges

Federal Reserve Chairman Jerome Powell said Tuesday that his confidence has weakened that inflation is under control. His comments made at a bankers' conference in Amsterdam came the same day that the Labor Department reported that wholesale prices jumped 0.5 percent in April, the largest increase since April 2023. Wholesale...

Federal Reserve Chairman Jerome Powell said Tuesday that his confidence has weakened that inflation is under control. His comments made at a bankers’ conference in Amsterdam came the same day that the Labor Department reported that wholesale prices jumped 0.5 percent in April, the largest increase since April 2023. Wholesale…

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