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Powell is concerned that rising oil prices will affect inflation, and U.S. stocks have fallen to a low point
According to Jinshi reports, U.S. stocks fell to their daily low after Federal Reserve Chairman Powell stated that rising oil prices could increase price pressures and harm U.S. economic growth. Some analysts believe that this concern may dampen the extent of future interest rate cuts. Powell pointed out that the current tariff shocks, pandemic impacts, and ongoing energy crisis could affect inflation expectations.
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