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Good morning, Opening Bell crew. Senior reporter Phil Rosen here. 

Yesterday, Fed Chair Jerome Powell gave a speech at the Economic Club of Washington, saying the stronger-than-expected labor market is going to make the inflation fight difficult.

"It kind of shows you why we think this will be a process that takes a significant period of time," Powell said, adding that the path forward is "probably going to be bumpy." 

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BP petrol station in Australia at night
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