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Fed’s Jerome Powell Braces for Longer Inflation Fight Amid Hiring Surge
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Federal Reserve Chair Jerome Powell said the labor market’s surprising strength underscores why bringing inflation down will take longer and require higher interest rates than many investors have been anticipating.
A government report Friday that showed hiring accelerated in January was “certainly strong—stronger than anyone I know expected,” Mr. Powell said Tuesday during a moderated discussion before the Economic Club of Washington, D.C. “It kind of shows you why we think this will be a process that takes a significant period of time.”
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