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Powell Sees Room to Raise Rates Without Hurting Jobs

FED

Q: Can the Fed raise rates and bring inflation under control without hurting jobs/wages?

  • A: "Most definitely participants see that labor conditions are consistent with maximum employment in the sense of the highest level of employment that is consistent with price stability and that is my personal view".
  • "I think there's room to raise rates without threatening the labor market." "This is a very very strong labor market."
  • But: notes that there are "other forces this year which would also bring down inflation" (supply side improvements, fiscal policy less supportive of growth)
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