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Powell's comments come as financial markets struggle to interpret the Fed’s recent moves

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A new report predicts inflation won’t be as high in Canada as it is in the U.S.

  • By: IE Staff
  • June 22, 2021 June 22, 2021
  • 13:45
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The Federal Reserve may act sooner than planned to start dialing back low-interest rate policies

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No one wants to relive the double-digit inflation of the 1970s, Yellen told the Senate Finance Committee on Wednesday

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The reading compared with a year-over-year gain of 3.4% in April

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The inflation spike is likely temporary, but a Fed hike could come sooner than previously expected

Federal Reserve building in Washington DC, US. Close up of a top part of the building with eagle statue.

Escalating inflation has intensified pressure on the central bank

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The U.S. saw inflation rise by 5% over the last 12 months, the biggest jump since 2008

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Survey finds a variety of upside and downside risks on forecasters' radar

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Sources of inflation will likely prove temporary as the economy reopens and finds its footing