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Federal Reserve Chair Jay Powell told investors and policymakers Wednesday afternoon to brace for a longer fight against inflation.

The Federal Reserve’s price war drags on

Federal Reserve Chair Jay Powell told investors and policymakers Wednesday afternoon to brace for a longer fight against inflation.

Powell has been saying for months that the Federal Open Market Committee needed “greater confidence” that inflation is moving toward the U.S. central bank’s goal of 2% annual price increases.

Today, he acknowledged that it was “likely that gaining such greater confidence will take longer than previously expected.”

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