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News Wrap: Fed Chair Powell defends aggressive rate hikes, admits recession is possible

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In our news wrap Wednesday, Federal Reserve Chair Jerome Powell pledged to raise interest rates enough to douse inflation without sparking a recession, Russian artillery battered Kharkiv in Ukraine's northeast, Sri Lanka's prime minister declared his nation’s economy is in complete collapse and asked for foreign assistance, and Yellowstone National Park partially reopened after record flooding.

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Category
U.S. & Canada
Tags
afghanistan earthquake, federal reserve, federal reserve interest rates
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