Prices rose 4 percent in June as Fed, Biden admin say inflation is temporary

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Prices rose 4 percent in June as Fed, Biden admin say inflation is temporary

At a news conference Wednesday, Fed Chair Jerome H. Powell said that as temporary supply chain issues abate, inflation will fall closer to the Fed’s 2 percent annual target. But the Fed is watching closely to see which sectors continue to see prices climb, and if peoples’ expectations around inflation morph over time, too.



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