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Federal Reserve President on Inflation Progress
U.S. Federal Reserve Chairman Jerome Powell emphasized that inflation rates so far do not indicate a tangible improvement toward the targeted 2%. He clarified that the central bank will take action if inflation does not rapidly progress toward this level, recognizing the potential for higher economic growth. He also stressed the importance of focusing on price stability and preventing inflation expectations from becoming unanchored, noting that maintaining medium-term inflation expectations stable is crucial. Powell explained that controlling inflation is a challenging task and that moderate wage growth does not necessarily reflect future inflation expectations.
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