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Sep 21, 2022

“The bedrock of our economy”

That’s how Chair Jerome Powell characterized price stability today, but the Federal Reserve may have more work ahead in its quest to subdue inflation. Plus, the history behind the Fed’s 12 regional banks.

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Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on September 21, 2022 in Washington, DC.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference following a meeting of the Federal Open Market Committee (FOMC) at the headquarters of the Federal Reserve on September 21, 2022 in Washington, DC.
Drew Angerer/Getty Images

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“The bedrock of our economy”