Refinitiv Newscasts - Trading at Noon: Markets uncertain as Powell speaks for a second day

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22/06/2023 17:05

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Source: Reuters

Description: U.S. Federal Reserve Chair Jerome Powell defended the likely need
for further interest rate increases despite the possible impact on
jobs.Meanwhile, the number of people filing for state unemployment benefits
for the first time held steady at a 20-month high last week, remaining
elevated for a third straight week in what may be an early indication of a
softening labor market in the face of the Federal Reserve's aggressive credit
tightening.
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