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MNI BRIEF: Fed’s Powell Flags Risk of Persistent Inflation


Federal Reserve Chair Jerome Powell said Wednesday that while inflation is mostly related to pandemic closures and reopening, “the risk of persistent higher inflation has clearly risen.”

Powell added that strong wage growth is not yet worrisome from an inflationary point of view. “That’s something we’re watching very closely,” he said during congressional testimony.

MNI Washington Bureau | +1 202 371 2121 |
MNI Washington Bureau | +1 202 371 2121 |

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