Jerome Powell Signals Fed Prepared to Slow Rate-Rise Pace in December

Breaking: Federal Reserve Chairman Jerome Powell signaled that Fed officials are on track to lift interest rates by a half percentage point in December, a smaller increase than the previous four rises

Fed chair says a labor-market slowdown will be needed to bring inflation back to the central bank’s 2% target

In 2021, officials thought that high inflation would be temporary. But a year later, it was still near a four-decade high. WSJ’s Jon Hilsenrath explains three factors that have kept inflation up for longer than expected.

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