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Published 2 months ago

Fed's Powell gets an earful about inflation and interest rates from small businesses

  • Small-Business owners expressed concerns about inflation, high interest rates, labor shortages, and other challenges of the post-pandemic economy during a meeting with Chair Jerome Powell.
  • The Federal Reserve is monitoring the economy to assess the impact of rate increases on inflation.
  • The Fed plans to keep its benchmark rate higher for longer and expects to raise it once more this year, aiming for price stability and sustained labor market conditions.
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