Fed Chair: Economy is strong, rates will rise

Fed Chair: Economy is strong, rates will rise

Expect interest rates to continue the slow, steady march higher. That was the message from Federal Reserve Chairman Jerome Powell at his closely watched speech Friday in Jackson Hole, Wyoming, site of the Fed’s annual retreat.

Powell said he sees economic strength in the U.S. economy and plans to keep on the current policy course. He said the Fed is focused on balancing the dual risk of runaway, inflation-inducing growth and opposing forces that could halt expansion.

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