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Powell: Fed will keep raising rates, but at slower pace

Posted on AllSides November 30th, 2022
From The Center

Federal Reserve Chair Jerome Powell said Wednesday the central bank will keep raising interest rates to fight inflation but at a slower pace, signaling a slow-down in rate hikes that have raised costs on new mortgages and car payments to slow the economy.

In a Wednesday speech, Powell said that despite a recent slowdown in price growth officials are looking for “substantially more evidence to give comfort that inflation is actually declining.” 

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