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Fed Must act 'strongly' to avoid repeat of 1980s inflation spike: Powell
Fed Must act 'strongly' to avoid repeat of 1980s inflation spike: Powell

The Federal Reserve must continue to act "strongly" to cool demand and contain price pressures to avoid a repeat of the inflation surge the US economy suffered in the 1970s and 1980s, Fed Chair Jerome Powell said Thursday. Though the Fed is hoping the world's largest economy will continue growing, Powell has acknowledged that the Fed's aggressive inflation-fighting campaign could cause some pain.