Photo: Jerome Powell, chairman of the U.S. Federal Reserve, walks the grounds at the Jackson Hole economic symposium in Moran, Wyoming, on August 25, 2023. Jerome Powell, chairman of the U.S. Federal Reserve, walks the grounds at the Jackson Hole economic symposium in Moran, Wyoming, on August 25, 2023.

Federal Reserve Chair Jerome Powell signaled that interest rates will stay high and could rise even further should the economy and inflation fail to cool.

In a hotly anticipated speech Friday at the U.S. central bank’s annual conference in Jackson Hole, Wyoming, Powell stressed that the Fed’s inflation-fighting job isn’t done while noting progress in slowing price gains.

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