⚠️Breaking News!!!⚠️

Federal Reserve Chairman Jerome Powell forecasts that inflation could return to 2% by the end of next year or the year after, according to a BlockBeats report on July 2. Powell emphasized that the Fed's current restrictive policy stance is appropriate. He noted that some inflation in the service sector is "catch-up" inflation and that the labor market is cooling, with wage growth beginning to decline to more sustainable levels. However, Powell acknowledged the challenge of reducing service sector inflation and stressed the importance of ongoing labor market adjustments. Overall, Powell's comments suggest cautious optimism about the Fed's policies in stabilizing the economy.

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