Powell Stands Firm on Fed Policy

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Powell, the leader of the Fed, asserts that the government must reduce inflation and should not expect the Fed to fund its debt. The Fed will not be making any rate reductions this year, and it may take two years before the rate is cut. Despite no progress in lowering core inflation, a potential cooling job market could aid a soft landing in the economy. The Fed is keeping a close watch on the banking system and no member sees a rate cut in 2023. [/s2If]

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