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MNI BRIEF: Powell Sees Rate Hike Before Workforce Rebound

WASHINGTON (MNI)

Federal Reserve Chair Jerome Powell said the central bank will probably need to raise interest rates before labor force participation rebounds significantly as inflation surges.

“The return to higher participation is going to take longer,” he said. “We have to make policy now and inflation is well above target so this is something we have to take into account.”

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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