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Jerome Powell to Testify to Congress on Outlook for Rates, Inflation
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Federal Reserve Chair Jerome Powell is likely to caution on Capitol Hill that strong economic activity this year could lead U.S. central bank officials to raise interest rates more than they expected to combat high inflation.
Mr. Powell is set to testify for two days, starting Tuesday at 10 a.m. Eastern time before the Senate Banking Committee and continuing Wednesday before a House committee. They will be his last scheduled public remarks on interest-rate policy, and a final chance to shape market expectations, before the Fed’s next meeting, March 21-22. Officials begin their premeeting quiet period on Saturday.
Read more on wsj.comAbout this in other media
Pro Take: The Fed Hits Inflation With Ninth Rate Hike as Banks Reel wsj.com /1 year ago
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Federal Reserve Faces Tough Decision on Rate Increase wsj.com /1 year ago
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