(Reuters) – The Federal Reserve will keep interest rates “low for a long time” as it supports the labor market recovery and works to drive higher inflation, but will not allow inflation to spiral out of control, the president said. of the Philadelphia Fed, Patrick Harker, on Wednesday. “We are willing to beat inflation a little bit, not let it get out of control,” Harker said during a virtual event hosted by the Greater Philadelphia Chamber of Commerce. “But let’s let it go a little above 2% and bring the labor markets back to health.”
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