NEW YORK -- The yen slid against the dollar on Friday after Federal Reserve Chair Jerome Powell warned that the central bank was prepared to hike interest rates further if inflation remains too high in a highly anticipated address.
Economy
Yen edges down as Fed's Powell says higher rates may be needed
Robust U.S. consumer spending, housing market threaten 2% target
Federal Reserve Chair Jerome Powell delivered a highly anticipated speech Friday morning at an economic summit in Jackson Hole, Wyoming. © Reuters
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