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For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Inflation Jerome Powell Donald Kohn Paul Volcker Economy Peter Hooper US Federal Reserve Recession Christopher Waller Interest Rates

The Fed under chairman Jerome Powell sees sustained inflation as a potentially greater menace than a recession. AFP

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

The hardest part lies ahead.

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