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Markets cheer Powell’s less hawkish tone as inflation challenge lingers
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US Federal Reserve boss Jerome Powell said the US central bank is prepared to raise interest rates higher to bring down inflation.
PHOTO: AFP
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SINGAPORE - The much-anticipated speech by United States Federal Reserve chairman Jerome Powell at the Jackson Hole symposium was somewhat soothing for nervous markets.
While not exactly dovish on the Fed’s inflation and interest rate outlook, Mr Powell was not as hawkish as he had been during his 2022 Jackson Hole pronouncement, which sent markets diving back then.
