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Fed chair Jerome Powell: Rate hikes could lead to more job losses

Summary by Ground News
Jerome Powell tells lawmakers that aggressive interest rate hikes could lift unemployment on Main Street. Powell says the Fed does not have precision tools and job losses could be in the cards. The unemployment rate stood at just 3.6% in May, down from nearly 15% in April 2020. The Fed admits it misjudged the risk of high inflation.
Fed chair Jerome Powell: Rate hikes could lead to more job losses
10 days ago·Washington, United States

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CNN

Fed chair Jerome Powell: Rate hikes could lead to more job losses

Federal Reserve Chairman Jerome Powell told lawmakers on Thursday that aggressive interest rate hikes designed to tame inflation could lift unemployment.

10 days ago·Atlanta, United States
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New York Times

What Fed Chair Powell has said about inflation, interest rates and the risk of a recession.

11 days ago·New York, United States
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KVIA

Fed chair Jerome Powell: Rate hikes could lead to more job losses

By Matt Egan, CNN BusinessFederal Reserve Chairman Jerome Powell told lawmakers on Thursday that aggressive interest rate hikes designed to tame inflation could lift unemployment on Main Street.Powell said that although it’s “certainly possible” to get inflation under control without causing job losses, that may not be the case.“There is a risk that unemployment will move up, from what is an historically low level though,” Powell said during a h…

10 days ago
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KRDO

Fed chair Jerome Powell: Rate hikes could lead to more job losses

By Matt Egan, CNN BusinessFederal Reserve Chairman Jerome Powell told lawmakers on Thursday that aggressive interest rate hikes designed to tame inflation could lift unemployment on Main Street.Powell said that although it’s “certainly possible” to get inflation under control without causing job losses, that may not be the case.“There is a risk that unemployment will move up, from what is an historically low level though,” Powell said during a h…

10 days ago
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KIFI

Fed chair Jerome Powell: Rate hikes could lead to more job losses - Local News 8

By Matt Egan, CNN BusinessFederal Reserve Chairman Jerome Powell told lawmakers on Thursday that aggressive interest rate hikes designed to tame inflation could lift unemployment on Main Street.Powell said that although it’s “certainly possible” to get inflation under control without causing job losses, that may not be the case.“There is a risk that unemployment will move up, from what is an historically low level though,” Powell said during a h…

10 days ago
Read Full Article
New York Post

Fed chair Jerome Powell: ‘Unconditional’ bid to fight inflation could spur job losses

“We have a labor market that’s sort of unsustainably hot and we’re very far from our inflation target,” Powell said.

10 days ago·New York, United States
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38% of the sources are Center, 38% of the sources lean Right
CNN
New York Times
KVIA
KRDO
KMIZ
New York Post
Fox Business
The Daily Caller
L 25%
C 37%
R 38%
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