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Pro Take: Now Isn’t Time to Change the Fed’s 2% Inflation Target, Economists Say
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Federal Reserve Chairman Jerome Powell on Capitol Hill this week confirmed the central bank remains committed to bringing inflation down to its 2% target, even as markets and some economists worry about the toll more interest-rate increases could take on the economy and jobs.
Some lawmakers have expressed concern as well. During Mr. Powell’s congressional testimony Tuesday, Sen. Elizabeth Warren (D., Mass.) warned of big layoffs—perhaps two million job cuts—if the Fed cranks up interest rates this year to reach its stated...
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