Inflation is still too high, Fed's Jerome Powell says

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While inflation slowed compared to a year ago, the economy is growing faster than the Fed anticipated, Powell said at a luncheon Thursday.

Inflation is still too high. That’s the sentiment of Federal Reserve Chairman Jerome Powell in his addressThursday at the Economic Club of New York.

Powell did not indicate whether he was learning toward recommending an interest rate hike at the next Fed meeting in November.

 

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