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Powell expects inflation to continue in 2022

Fed Chair Jerome Powell said Friday that elevated U.S. inflation readings are expected to last into next year and the central bank is watching the impeded risk that consumers start to experience because of the accelerated inflation.

In a discussion sponsored by the central bank of South Africa, Powell admitted that he roughly adopted the view that inflation will not only be transitory but also persistent. The base case is that price pressures will retreat.

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