Fed Chair Powell testifies before the House committee on monetary policy — 3/8/23

Federal Reserve Chairman Jerome Powell speaks Wednesday morning to the House Financial Services Committee on the semiannual monetary policy report.

Powell on Tuesday cautioned that interest rates are likely to head higher than central bank policymakers had expected.

Citing data earlier this year showing that inflation has reversed the deceleration it showed in late 2022, the central bank leader warned of tighter monetary policy ahead to slow a growing economy.

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LIVE: Fed Chair Powell testifies before the House committee on monetary policy — 3/8/23