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Chair Powell On Whether Inflation Is At Risk Of Becoming Entrenched

FED
  • Q: Do you see evidence that inflation is at risk of becoming entrenched?
  • A: If we saw L-T expectations moving up, that would be very troubling. They were moving up a little bit at the middle part of the year, they've moved back down. Shorter-term expectations moved up since the last meeting. They may be important in the wage-setting process - that's very important. The longer we have high inflation we're now 18 months of this episode. Thee thing we need to do from a risk management standpoint is to use our tools forcefully but thoughtfully and get inflation under control, get it down to 2%, get it behind us. That's what we really need to do and what we're strongly committed to doing.
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