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Powell Era at Fed Seems Sure to Face Some Turbulence

When Jerome Powell is sworn in Monday as the new chairman of the Federal Reserve, the pride of the moment may be tempered by Powell's recognition of the risks that lie ahead. A ferocious sell-off on Wall Street on Friday — with stocks tumbling and bond yields rising after the January U.S. jobs report suggested higher inflation ahead — served as a blunt reminder of the challenges Powell's Fed will face. At his Senate confirmation hearing, Powell stressed his...

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