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Fed’s Powell says higher interest rates needed to curb inflation

Por: Portland Press Herald World June 21, 2023

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Federal Reserve Chair Jerome Powell said policymakers expect interest rates will need to move higher to reduce U.S. growth and contain price pressures, even though they held rates steady at their meeting last week. “Earlier in the process, speed was very important,” Powell said Wednesday in testimony before the House Financial Services Committee, referring to the pace at which officials lifted rates over the past year. “It is not very... + full article



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