Inflation remains persistently high at 8.2%—and more interest rate hikes are likely. (via CNBCMakeIt)
Despite the Federal Reserve implementing five consecutive interest rate increases, the last three "jumbo-sized" at 0.75 percentage point, inflation remains persistently high.
Powell also said that the central bank was "strongly resolved to bring inflation down to 2%, and we will keep at it until the job is done."
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