Fed Chair Jerome Powell Says Inflation Remains Elevated as Energy Risks Build
Powell said the economic effects of Middle East developments are uncertain, while higher energy prices in the near term are expected to lift overall inflation.
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Terms & Concepts
Inflation: A sustained rise in prices that reduces purchasing power across the economy.
Federal Reserve: The central bank of the United States, responsible for monetary policy and inflation management.
Energy prices: Costs for oil, gas, and related fuels that can influence headline inflation and economic activity.