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Federal Reserve Chair's statement soothes markets
The head of the U.S. Federal Reserve, Kevin Warsh, stated that the central bank is committed to a firm policy to combat inflation, which has helped calm global market concerns. He confirmed that the continued rise in prices poses a burden on the U.S. economy, and that the Federal Reserve must continue fighting inflation. This has led to a decline in long-term inflation expectations and a drop in oil prices, despite recent inflation data still showing strong price pressures. The market anticipates at least one interest rate hike this year if inflationary pressures persist.
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