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Federal Reserve Chairman Powell said on Wednesday that inflation expectations and inflation risks have both declined in recent weeks; at the same time, he reiterated the Fed's commitment to lowering the inflation rate to the target level of 2%. "In the first few weeks of this period, inflation expectations have fallen and inflation risks have also decreased," Powell said. "If households, businesses, or financial markets think that the Fed is okay with inflation above 2%, they may be disappointed: we will ensure price stability in the United States."