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MNI BRIEF: Powell: Fed Wants Inflation Above 2% 'For a Time'

(MNI) WASHINGTON
WASHINGTON (MNI)

Federal Reserve Chair Jerome Powell on Thursday reaffirmed the central bank's commitment to a new policy framework that seeks to make up for past inflation misses.

"The public will need to see us allow inflation to move moderately above 2% for a time before the new framework will be seen as fully credible," he told a webinar, adding he was encouraged by market signals so far.

"Since we announced the framework shift in August, there's plenty of evidence that market participants have shifted their expectations in a way that's consistent with the changes."

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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