Fed's Powell: There's No Painless Way to Beat Inflation

The transcript discusses the likelihood of below trend economic growth, with forecasts indicating slow growth rates. This could lead to increased unemployment, but is seen as necessary to address inflation. The focus is on raising interest rates to exert downward pressure on inflation, aiming for a strong labor market in the future.

What is the speaker's view on inflation and its impact on the labor market?

What does the speaker suggest is necessary to address inflation?