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Fed to keep rates higher for longer to cut inflation, chairman Powell says

Por: Portland Press Herald World November 30, 2022

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WASHINGTON — The Federal Reserve will push rates higher than previously expected and keep them there for an extended period, Chair Jerome Powell said Wednesday, in remarks likely intended to underscore the Fed’s single-minded focus on combating stubborn inflation. Federal Reserve Chairman Jerome Powell said that rents and other housing costs – which make up about a third of the consumer price index – were likely to decline next year.... + full article



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