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Fed’s Powell concedes anxiety about higher inflation but resists policy shift

Powell said pandemic-related bottlenecks and other supply constraints for a small group of goods and services have led to rapid price increases. (REUTERS) — Powell said pandemic-related bottlenecks and other supply constraints for a small group of goods and services have led to rapid price increases. **(REUTERS)**

4 min read . Updated: 16 Jul 2021, 02:29 PM IST Nick Timiraos, The Wall Street Journal

Plans to reduce central bank asset purchases remain ‘a ways off,’ Fed chief says

Federal Reserve Chairman Jerome Powell said recent inflation was uncomfortably above the levels the central bank seeks, concluding two days of testimony in which he sounded somewhat less confident about the economic outlook—and the Fed’s policy path—than earlier this year.