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Powell Says Fed Needs Compelling Evidence of Inflation Slowdown to Alter Rate-Rise Path

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wsj.com

Chairman Jerome Powell said the Federal Reserve plans to continue raising interest rates until it sees clear proof that inflation is slowing to the central bank’s 2% target.Officials raised interest rates by 0.75 percentage point last week, the largest increase since 1994, and Mr.

Powell and several colleagues have signaled that another such increase could be warranted at their next meeting, July 26-27.

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