Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise

Powell on getting inflation down: “This process is likely to take quite a bit of time. It’s not going to be, we don’t think, smooth. It’s probably going to be bumpy."
Powell: "We’re going to react to the data so if we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more than has been priced in."

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