A top Federal Reserve official says the central bank may have to keep monetary policy restrictive and accept economic pain to bring stubborn inflation down. The official describes the likely costs as rising unemployment, framing it as a potential outcome of efforts to restore price stability.
Both outlets report the remark in broadly similar terms, focusing on the risk that disinflation may not be quick or painless. While the available excerpts do not name the official or provide additional figures, they present the message as a caution that inflation-fighting efforts can carry short-term trade-offs for workers and employment. The Independent and the Winnipeg Free Press both characterize the comments as signaling tougher conditions may be required if inflation remains elevated.
