Powell Says Fed’s Gradual Rate Increases Should Keep Economy Strong

Mony
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Federal Reserve Chairman Jerome Powell said the Fed will stick to its path of gradual interest-rate increases to keep the economy growing without overheating.

Mr. Powell, speaking Friday in Chicago, suggested no hurry to pick up the pace of rate rises and described the current course as a prudent one that would balance the central bank’s desire to foster an economy that is growing at its full potential against the risk that it could expand too rapidly and send inflation soaring.

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