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Fed’s Powell says it’s time to taper bond purchases, but not raise rates

Fed's Powell says it's time to taper bond purchases, but not raise rates

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(Reuters) -Federal Reserve Chair Jerome Powell said on Friday the U.S. central bank should begin reducing its asset purchases soon, but should not yet raise interest rates because employment is still too low and high inflation will likely abate next year as pressures from the COVID-19 pandemic fade.

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