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6/29, 3:21 PM (Source: TeleTrader)
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US economy able to bear tighter monetary policy - Powell

American Federal Reserve Chair Jerome Powell at the European Central Bank Forum on Wednesday that despite the ongoing inflation issues, the United States economy is "well-positioned to withstand a tighter monetary policy."

He highlighted that, in the short term, the US economy is "in pretty strong shape", citing stable household savings and a continuously robust labor market.

Powell noted that, at present, the Fed is set on introducing a tighter monetary policy in order to moderate past economic growth and bring it to a more sustainable path, so that "the supply would have a chance to catch up."

Baha Breaking News (BBN) / SP