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Powell continues: - Broadly see inflation.......>

FED
FED: Powell continues:
- Broadly see inflation rising to objective, but more slowly than previously
expected. FOMC members expressed concerns about return to 2%. Wages not rising
fast enough for inflation impetus. Weak global inflation impact cited. Discusses
inflation expectations moving lower, both survey and market based, combined with
risks to growth = worried about sustained shortfall to inflation.
- Many FOMC believe a cut in the Funds rate in the scenario they see as most
likely. Even those who voted for flat dots agreed risks were to the downside.
- Q&A begins.

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