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Powell pledges to raise rates to battle inflation 'until the job is done'

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Federal Reserve Chair Jerome Powell on Thursday vowed to continue raising interest rates "until the job is done" on fighting inflation.

"History cautions strongly against prematurely loosening policy," he said. "I can assure you that my colleagues and I are strongly committed to this project."

The Fed has raised benchmark interest rates four times so far in 2022.

Read more from CNBC.

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