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Watch Fed Chair Powell speak live to a House committee on rate hikes and more

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Federal Reserve Chairman Jerome Powell will speak at the Capitol on Wednesday, the first of two days he will testify on monetary policy before the House Financial Services Committee. Sessions are held twice a year.

in the provided commentPowell reiterated that Fed officials expect more rate hikes this year to deal with inflation that is still too high.

“Inflation has eased somewhat since the middle of last year,” he said. “Nevertheless, inflationary pressures remain high and the process of returning inflation to 2% is a long way off.”

The Fed has hiked rates 10 times since March 2022, but inflation is still well above the central bank’s 2% target.

In his comments on monetary policy, Powell said officials recognized the need for prudent fiscal and regulatory management of the banking sector, which experienced turmoil early in the year.

Powell is scheduled to speak before the Senate Banking Committee on Thursday.

read more:
Fed postpones rate hike but announces two more hikes this year
Inflation rose 4% a year in May to its lowest level in two years
Former Fed Chairman Ben Bernanke says more must be done to curb inflation

Summarize this content to 100 words [The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chairman Jerome Powell will speak at the Capitol on Wednesday, the first of two days he will testify on monetary policy before the House Financial Services Committee. Sessions are held twice a year.in the provided commentPowell reiterated that Fed officials expect more rate hikes this year to deal with inflation that is still too high.“Inflation has eased somewhat since the middle of last year,” he said. “Nevertheless, inflationary pressures remain high and the process of returning inflation to 2% is a long way off.”The Fed has hiked rates 10 times since March 2022, but inflation is still well above the central bank’s 2% target.In his comments on monetary policy, Powell said officials recognized the need for prudent fiscal and regulatory management of the banking sector, which experienced turmoil early in the year.Powell is scheduled to speak before the Senate Banking Committee on Thursday.read more:Fed postpones rate hike but announces two more hikes this yearInflation rose 4% a year in May to its lowest level in two yearsFormer Fed Chairman Ben Bernanke says more must be done to curb inflation
https://www.cnbc.com/2023/06/21/watch-fed-chair-powell-speak-live-on-rate-hikes-and-more-to-a-house-panel.html Watch Fed Chair Powell speak live to a House committee on rate hikes and more

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