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Fed Chair Powell: further rate hikes best way to protect recovery

Mr Powell's comments not a direct response to President Trump's criticism of higher rates

Mr Powell said Fed mistakes of the past, such as a mis-estimation of full employment that allowed inflation to take off in the 1970s, mean the central bank today should not assume its current estimates of those economic variables are precise.

Jackson Hole, US

THE Federal Reserve's steady interest rate hikes are the best way to protect the US economic recovery and keep job growth as strong as possible and inflation under control, Federal Reserve Chair Jerome Powell said on Friday in a high-...

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