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Powell stresses commitment to full employment and low rates


February 11, 2021

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed's commitment to reducing unemployment to multi-decade lows, where it stood before the pandemic, while signaling little concern about the risk of potentially high inflation or financial market instability.

Powell stressed in prepared remarks for a webcast to the Economic Club of New York that the job market was far from fully recovered and that the Fed isn't considering any increase in its benchmark short-term interest rate from its current level near zero. He did not refer to the surging stock market...

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