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Chairman of the Federal Reserve Jerome Powell and other global central bank leaders spoke Wednesday morning at a monetary policy forum in Sintra, Portugal.
Joining Powell at the event presented by the European Central Bank were ECB President Christine Lagarde, Bank of England Governor Andrew Bailey and Bank of Japan Governor Kazuo Ueda.
The forum comes two weeks after Powell and his Fed colleagues decided to take what was supposed to be a temporary respite from a string of 10 consecutive rate hikes that began in March 2022. However, the banks. Other central banks have continued to be aggressive in combating inflation, with the ECB and the Bank of England both recently announcing rate hikes.
Markets expect the Fed to approve another 0.25 percentage point increase at its July meeting, then pause as officials observe the impact of rate hikes on the economy. However, Fed officials at the June meeting offered two more increases.
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