Inflation 'will likely remain elevated in coming months before moderating,” Federal Reserve Chairman says.
Federal Reserve Chairman Jerome Powell said Wednesday the economy needs to improve more before the central bank will change its ultra-easy monetary policy.
But he stuck to his oft-stated belief that the current surge is temporary and will be offset as conditions return to normal. The chair’s comments came as part of his mandated semiannual testimony to Congress on the state of monetary policy and the economy.
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