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US Fed chairman Powell "patient" on hikes, can act on inflation if needed

Bloomberg
Bloomberg11/4/2021 09:24 AM GMT+08  • 4 min read
US Fed chairman Powell "patient" on hikes, can act on inflation if needed
"I don't think we’re behind the curve. I feel the policy is well-positioned to address plausible outcomes," Powell said.
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Federal Reserve Chair Jerome Powell said officials can be patient on raising interest rates -- after announcing a start to reducing their bond purchases -- but won’t flinch from action if warranted by inflation.

“We think we can be patient. If a response is called for, we will not hesitate,” he told a news conference Wednesday after the Federal Open Market Committee said it would scale back by US$15 billion a month starting in November.

But Powell stressed that the tapering doesn’t mean policy makers will hike rates any time soon, emphasizing the desire to not hinder potential job gains ahead.

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