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Powell stresses commitment to full employment and low rates

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WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed’s commitment to reducing unemployment to multi-decade lows, where it stood before the pandemic, while signaling little concern about the risk of potentially high inflation or financial-market instability. Powell stressed during a webcast to the Economic Club of New York that the U. S. job market remains weak despite having improved from the depths of the pandemic-induced recession.

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