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FILE PHOTO: Federal Reserve Chairman Jerome Powell holds a press conference following a two-day meeting of the Federal Open Market Committee in Washington, DC, on January 30 2019. REUTERS / Leah Millis / File Photo
(Reuters) – US Federal Reserve Chairman Jerome Powell said the US central bank should wait until wages and inflation rise before raising interest rates, the president said on Sunday. of the Minneapolis Federal Reserve.
"I urged my colleagues," Hey, let's go slowly, "Kashkari told a city hall in Long Lake, Minnesota, during his first public speech after Fed officials decided last week to be patient to increase their rates.
"I think there are more people who want to work. Let the economy continue to strengthen and if we see signs, wages rise, inflation increases, we can always press the brakes; avoid pressing the brakes prematurely.
The town hall was a closed event and the Minneapolis Fed distributed an audio recording at the end.
Report by Ann Saphir in Portland, Oregon; Edited by Peter Cooney
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