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Fed Chair reinforces likelihood of more interest rate hikes due to persistently high inflation

Por: Portland Press Herald World June 22, 2023

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WASHINGTON — Federal Reserve Chair Jerome Powell reiterated Thursday that the Fed will likely raise interest rates at least once more this year, and potentially multiple times, because of persistently high inflation in the economy’s service sector and the surprisingly tight job market. Speaking to a Senate committee, Powell noted that “inflation has moderated somewhat since the middle of last year.” Still, the Fed chair stressed,... + full article



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