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Federal Reserve Chairman Jerome Powell will tackle the Senate Banking, Housing and City Affairs Committee on Tuesday morning.
Powell’s remarks include the central financial institution weighing the way forward for financial coverage and its impression on the inflation struggle. Officers have raised their benchmark rate of interest eight occasions over the previous 12 months, taking the fed funds fee to a goal vary of 4.50%-4.75%.
Markets have been trying to Powell for readability on how a lot additional the Fed is prone to push charges. Whereas inflation information began to float down in direction of the top of 2022, January indicated that costs rose briskly and will pose a menace forward.
Powell will observe up his remarks Tuesday with an look Wednesday earlier than the Home Monetary Companies Committee.
Learn extra:
Fed’s Powell heads to Capitol Hill this week, and he’s going to have his hands full
A year after the first rate hike, the Fed still has a long way to go in the fight against inflation
Fed can’t tame inflation without ‘significantly’ more hikes, causing a recession, paper says
