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MNI: Tackling Inflation Supports Confidence In Dollar - Powell

(MNI) Washington

Fed Chair says changes in global monetary system may affect role of the dollar in the future.

Tackling inflation and bringing prices back down to the central bank's 2% target will support confidence in the dollar, Federal Reserve Chair Jerome Powell Friday said Friday, but he warned that rapid changes in the global monetary system could impact the international role of the dollar over time.

"The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value. To that end, my colleagues and I are acutely focused on returning inflation to our 2 percent objective," Powell said in remarks for a Fed board conference on the international roles of the dollar.

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Tackling inflation and bringing prices back down to the central bank's 2% target will support confidence in the dollar, Federal Reserve Chair Jerome Powell Friday said Friday, but he warned that rapid changes in the global monetary system could impact the international role of the dollar over time.

"The Federal Reserve’s strong commitment to our price stability mandate contributes to the widespread confidence in the dollar as a store of value. To that end, my colleagues and I are acutely focused on returning inflation to our 2 percent objective," Powell said in remarks for a Fed board conference on the international roles of the dollar.

Keep reading...Show less