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Federal Reserve Chair Jerome Powell announced that long-term interest rates will likely remain higher due to economic shifts and policy adjustments. Powell cited the recent period of high inflation and aggressive interest rate hikes as contributing factors. He suggested that the era of near-zero interest rates is over, partly due to the potential for more frequent and persistent supply shocks. Powell's comments align with recent warnings about the challenges of balancing employment support and inflation control, though he didn't explicitly mention President Trump's tariffs' impact.

Prepared by Christopher Adams and reviewed by editorial team.