Fed prepared to move rates higher, inflation 'remains too high' says Fed Chair

In his annual speech at the Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell warned that the Fed is ready to raise rates again if it's needed. Powell stressed that though inflation has come down, "it remains too high." As a result, the Fed is prepared to "raise rates further if appropriate" and will "hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective," Powell said. Going forward, the Fed chair says they will "proceed carefully" as they assess incoming data. Powell notes the road ahead, stating "there is substantial further ground to cover to get back to price stability."You can watch full comments made by Federal Reserve Chair Jerome Powell here Subscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: https://yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: https://yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: http://bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: http://bit.ly/2LMgloP Follow Yahoo Finance on Instagram: http://bit.ly/2LOpNYz Follow Yahoo Finance Premium on Twitter: https://bit.ly/3hhcnmV