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As inflation continues to heat up, Jerome Powell is going to have some ‘splaining to do

·4 min read
As inflation continues to heat up, Jerome Powell is going to have some ‘splaining to do
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Federal Reserve Chairman Jerome Powell and many economists were surprised by how much inflation has accelerated. May and June prices, as measured by the consumer price index, were up at 8% and 11.4% annual rates over their prior months. Powell has convinced himself and financial markets that the recent surge in inflation will moderate.