Following higher than expected inflation and labor market readings in January and February on the tailwinds of a booming U.S. economy, Federal Reserve officials are suggesting they may keep interest rates higher for longer. “It is too soon to say whether the recent readings represent more than just a bump,” Fed chair Jerome Powell said at an event Wednesday. “We do not expect that it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2 percent.” The consumer price index (CPI) topped expectations for the second straight month in February, coming in at a 0.4-percent monthly increase to hit a 3.2-percent annual
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