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Federal Reserve not likely to raise U.S. rates on inflation fears alone: Powell Updated: 2021-06-23 13:12:14 KST

The Federal Reserve is signaling that it's not going to raise interest just based on fears of inflation.
Speaking to a congressional panel on Tuesday, Fed Chair Jerome Powell said that there will be no pre-emptive rise, and they'll "wait for evidence of actual inflation or other imbalances".
He said the current spike in inflation is due to low inventories of things like used cars and trucks as the economy reopens.
Powell also said the Fed intends to facilitate a "broad and inclusive" recovery of the job market and the economy.
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