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MNI BRIEF: Fed's Jefferson Says Inflation Has Started To Abate

U.S. inflation has started to abate while stresses in the banking sector presents challenges to the outlook, Fed vice chair nominee Philip Jefferson said in prepared testimony that will be delivered Wednesday.

"The economy faces multiple challenges including inflation, banking-sector stress, and geopolitical instability. The Federal Reserve must remain attentive to them all. Inflation has started to abate, and I remain focused on returning it to our 2 percent target," he said. "Despite recent stress, the U.S. banking system is sound and resilient, and I remain attuned to any threats to its stability." (See MNI INTERVIEW: Fed 'Skip' Heralds Premature Pause-Ex-Staffer)

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
North AmericaUSPolicy NewsCentral Bank NewsHomepageFederal ReserveBriefStoryRegion
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
North AmericaUSPolicy NewsCentral Bank NewsHomepageFederal ReserveBriefStoryRegion

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