We see that China has a problem with zero COVID policy, - Powell
Some countries are struggling because of the strong dollar. Obviously, the world economy is going through a difficult period.
If we "over-chew", we can support economic activity with our tools. Otherwise, in a year or two you will realize that we have not managed inflation in time.
There is no indication that inflation is coming down. Right now our focus is on determining the level to which rates should be raised. We don't know what we're going to do when we get to that level.
