Powell and Central Bankers See More Tightening as Economies Withstand Hikes

Central bank leaders, including Powell, Lagarde, and Bailey, expressed doubts about their ability to rein in high inflation. Powell hinted at further rate hikes, Lagarde suggested an imminent ECB increase, and Bailey pledged to combat inflation. Japan’s rates remain unchanged due to low inflation. The central banks’ aggressive tightening last year has not yet yielded desired results.