Federal Reserve Chairman Powell: The Federal Reserve will not tolerate excessive inflation.

Federal Reserve Chairman Kevin Walsh said that central bank officials will never tolerate high inflation. He reiterated the determination to control price increases, as the problem of rising prices has persisted for five years. In a speech published by the Federal Reserve, he stated, "Our committee members cannot tolerate sustained high inflation." "We are all determined to restore price stability." "If we can develop the right policies - and we can definitely do that - then the inflation problems of the past five years will become history." Walsh's speech was prepared before the release of the June US CPI data.