Fed Chair Signals Rate Hike as Inflation Fight Takes Priority

The chair of the US Federal Reserve used a high-profile speech in Wyoming to send a clear message to markets and the White House: controlling inflation comes first. Speaking to monetary policymakers at the annual Jackson Hole symposium, he suggested that an interest rate increase is likely on the way. The remarks were widely seen as an effort to reinforce the central bank’s independence and credibility, even as political pressure from former President Donald Trump looms over its decisions.