Jerome Powell is heading into the 'danger zone'

Federal Reserve Chair Jerome Powell, seen here on September 21 in Washington, DC, stressed that the central bank could increase borrowing costs without inflicting too much damage on the economy. Six months later, Powell is sounding less assured.

When the Federal Reserve started hiking interest rates to combat decades-high inflation, Chair Jerome Powell stressed that the central bank could increase borrowing costs without inflicting too much damage on the economy.

"We feel the economy is very strong and will be able to withstand tighter monetary policy," Powell said in March.

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