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Federal officials say they are closely monitoring the economic situation, indicating that inflation is slowing down, but they are still assessing the situation. Thomas Barkin, President of the Federal Reserve Bank of Richmond, stated that the economy is strong but requires oversight to ensure there is no upward pressure on inflation.
*Key Points:*
- *Inflation*: Slowing down, but the Fed is still watching the situation.
- *Economy*: Strong, but needs monitoring.
- *Interest Rates*: May remain high for a longer period.
Jerome Powell, Chairman of the Federal Reserve, said that the minutes from Wednesday’s meeting will provide details about the Fed officials’ discussions on monetary policy. Michelle Bowman, a Federal Reserve Board Governor, stated that recent data do not indicate an economic slowdown¹.
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