The Fed Is Not Going to Raise Till Something Breaks

Powell: I don't subscribe to the notion that I need to crash the economy and clean it up later to get inflation down today. He's raised rates so aggressively at this moment that we don't know whether something is rotting from the inside, whether some sort of cockroaches are in there. The Fed has told you now that they're no longer going to raise until something breaks. They're going to try to feel their way around in the darkness and get to the target in a little bit measured way.