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Powell: Progress towards the 2% inflation target has slowed down "

Internet reports that Federal Reserve Chairman Powell delivered a speech on the economic outlook. He said that recently, our progress in achieving the 2% inflation target has slowed down. In the 12 months to February, total PCE prices rose 2.5%. Core PCE prices, which exclude volatile food and energy categories, rose 2.8%. Looking ahead, higher tariffs will play a role in our economy and could raise inflation in coming quarters. By most measures, long-term inflation expectations (inflation expectations for the next few years) remain well anchored and in line with the 2% inflation target. We remain committed to our goal of sustainably returning inflation to 2%.

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