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. In his speech, Jerome Powell reiterated that there will be some pain for both investors and consumers as it continued to battle the soaring inflation.until it sees a clear sign that inflation has started dropping.
And on Friday, the closely watched PCE data showed that the country’s inflation continued dropping as gasoline prices pulled back. Therefore, analysts were expecting the Fed to start slowing down its hawkish tone in the coming meetings. Speaking at the Jackson Hole Symposium, Isabel Schnabel and Francois Villeroy Galhau said that a large sacrifice will be needed to tame inflation.
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