FILE - In this June 22, 2021 file photo, Federal Reserve Board chairman Jerome Powell testifies on the Federal Reserve's response to the coronavirus pandemic during a House Oversight and Reform Select Subcommittee on the Coronavirus hearing on Capitol Hill in Washington. Federal Reserve officials began debating at their June meeting when and how they would reduce the monthly bond purchases that they have used to keep longer-term interest rates in check. (Graeme Jennings/Pool via AP)
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