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Powell Says Fed Policy Will Adapt Amid Risk of Persistent Inflation

  • Fed chair comments in second day of congressional hearings
  • Cautions risk of persistent higher inflation has clearly risen
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Powell Says Fed Will Adapt to Rising Inflation Risk
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Federal Reserve Chair Jerome Powell reinforced his message that the U.S. central bank would keep inflation in check and said for the second time in two days that officials should consider speeding up how quickly they withdraw policy support.

“We’ve seen inflation be more persistent. We’ve seen the factors that are causing higher inflation to be more persistent,”  Powell told the House Financial Services Committee on Wednesday. “Policy has adapted to that and will continue to adapt.”