The Democrats voted down part of the legislation that passed

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But central bankers expect it to “move up” this year. Data show it was already “a little bit higher” by the end of last year.Fears that higher inflation might force the Fed to raise rates faster than expected helped send stocks plunging earlier this month. Stocks have since recovered most of what they lost, and bond yields, which reflect inflation fears, have dropped.Powell said many of the challenges that the economy faced in the last few years are now in the background.Related: As Yellen leaves, https://www.mcjordanshoes.com Fed will face new challengesThe Fed chairman said that “fiscal policy is becoming more stimulative,” although he did not specifically mention the recently enacted Republican tax cuts or the $300 billion spending bill.

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