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MNI BRIEF: Powell-Focused On Not Waiting Too Long To Cut Rates

(MNI) WASHINGTON

Federal Reserve Chair Jerome Powell said policymakers are aware of the risk that they could unduly hurt the economy by waiting too long to cut interest rates, after the FOMC said it expects three rate reductions next year.

"We're aware of the risk that we would hang on too long. We know that that's a risk, and we're very focused on not making that mistake," he said. (See MNI INTERVIEW: Fed Could Cut When Core PCE Reaches About 2.8%)

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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