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The New York Sun
Economy

Fed’s Powell Downplays Potential for a Rate Hike Despite Higher Price Pressures

With price pressures still elevated, Mr. Powell and other Fed officials signal that no rate cut is likely anytime soon.

The Federal Reserve chairman, Jerome Powell, at New York on October 19, 2023.
The Federal Reserve chairman, Jerome Powell, at New York on October 19, 2023. AP/Seth Wenig