Powell: Fed's Gradual Rate Hikes Balance Against Risks

U.S. Federal Reserve Chair Jerome Powell said on Wednesday that while there was "a great deal to like" about U.S. prospects, the Fed's gradual interest rate hikes are meant to balance risks as it tries to keep the economy on track. "We know that things often turn out to be quite different from even the most careful forecasts," Powell said in a speech that comes in the wake of last week's volatile market selloff. "Our gradual pace of raising interest rates...

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