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Updated July 27, 2022 at 2:01 PM ET WASHINGTON, D.C. (NPR) — With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percentage point. This is the fourth time the… Read More
Powell warned it will take time to put millions of jobless Americans back to work, while also downplaying inflation threats.
In an interview with NPR, Powell says it may take years before the economy has fully recovered. He says practicing social distancing and wearing masks is essential for the economy to rebound.