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Beneath the Surface, Fed Sees No Letup in Inflation Pressure
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Recent readings on wages and prices have markets increasingly optimistic inflation can be brought down without a recession.
The Federal Reserve would love to agree, but it can’t. Not yet, anyway. In its quarter-percentage-point rate increase Wednesday, the accompanying statement and Chair Jerome Powell‘s press conference, the central bank made it clear its views had not changed. Inflation is still too high and won’t return to its 2% target without higher interest rates and a weaker labor market.
Read more on wsj.comAbout this in other media
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