Central Bank Intervention

As aggressive as the path for U.S. monetary policy tightening appears right now, one Federal Reserve governor doesn’t believe the central bank faces a world as ugly as when it last confronted inflation this high. Because of that, the Fed doesn’t need to take the same steps as it did under former leader Paul Volcker, when he took extremely aggressive action to kill inflation, which in turn caused an extremely deep recession, Fed governor Christopher Waller said in a public appearance Tuesday.…