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Interest-rate futures prices in the united states point to a peak fed policy rate of just under 5% by may 2023.
Fed's powell: it is far too soon to declare goods inflation defeated, but if the current trend continues, goods prices should begin to exert downward pressure on overall inflation in the coming months.
Fed's powell: we estimate that the pce price index rose 6% in the 12 months to october, core pce rose 5%.
Fed's powell: economic activity growth has slowed to well below the longer-run trend, and this must be maintained.
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Fed's powell: the route ahead for inflation is very uncertain.
Fed's powell: we have a long way to go before we can restore price stability.
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