Powell says inflation risks rising, but Fed can be ‘patient’

Powell says inflation risks rising, but Fed can be ‘patient’

By CHRISTOPHER RUGABER
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Friday that the tangled supply chains and shortages that have bedeviled the U.S. economy since this summer have gotten worse and will likely keep inflation elevated well into next year.
The Fed is not yet prepared to lift its benchmark interest rate, he said, though he suggested that the economy may be ready for a…

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