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This is CBS, I am the world. I'm John Bacheler. Jerome Powell, chairman of the Federal Reserve,

remarks following the most recent hike by the Federal Reserve half a point. Looking

to tame the inflation story, which has been running very hot for months. However, I'm

struck by this irony. The Wall Street Journal lead a tutorial entitled Jerome Powell's

finest hawk feathers. Subhead, the Fed chairman really, really wants you to believe him

on inflation. I welcome Veronique de Rige of the Mercatocenter, who helps me interpret

what I'd have to say is doubt at the editorial board that Jerome Powell means it when he says

that he will fight inflation, stay the course, raise the rates until it's no longer 6%

core inflation, it's 2% core inflation. Veronique, a very good even to you. I don't usually

ask why people doubt the Federal Reserve after their 2021. There's plenty of reason to

doubt them because everything was wrong. Jerome Powell is now playing catch-up. Do you believe

him and is he doing well at catch-up? Good evening to you.

Good evening. I believe him. I think the most important message of his press conference

yesterday was, and we're going to continue raising rates much further than we anticipated

because we haven't made enough progress so far. That was the most important point. To

be honest, I think it's interesting that people are upset about this. 7.1% inflation over

...