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23.11 - 02:23
Transcript: Fed Chief Powell’s Postmeeting Press Conference
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Federal Reserve Chairman Jerome Powell on Wednesday discussed the central bank’s decision to not raise interest rates and its outlook for inflation, noting that the Fed continues to see the economy adjusting to the supply-and-demand imbalances that have been driving prices up. As this process unfolds, inflation should ease to levels closer to the central bank’s 2% target, Mr.
Powell said. During a press conference after the Fed’s monetary policy meeting, he also discussed why officials decided to begin reducing the central bank’s $120 billion-a-month asset-purchase program.
Here is a transcript, lightly edited for clarity...
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