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Federal Reserve Chair Jerome Powell said he hears America’s inflation worries “loud and clear.”
Powell faced a swarm of questions surrounding high inflation and what the Fed plans to do about it during his testimony before the U.S. House Committee on Financial Services on Wednesday.
The Fed chair maintained his “transitory” inflation stance while pointing out that the central bank is “anxious” like everyone else to see inflation pass through and return to normal.
“Right now, inflation is not moderately above 2%; it is well above 2%. The question is, where does it leave us six months from now? It depends on the path of the economy,” Powell said.
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