Steady monthly increases in oil releases will continue
Powell also elevated inflation-fighting as a more urgent priority than supporting job growth
The S&P 500 index dropped 106.84 points, or 2.3%, marking its worst day since February
Employers have made 18 million new hires since April 2020
The inflation spike is affecting consumers, the Biden administration and central banks
The Labor Department said Friday that 4.4 million people quit their jobs in September
The inflation rate was the largest since 1990
America's employers added a solid 531,000 jobs in October, the most since July of this year
To start, the U.S. central bank will reduce monthly bond purchases by $15 billion in each of November and December
Borrowing needs are starting to ease