Watch Fed Chairman Jerome Powell speak live on Capitol Hill on interest rates and the economy
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Federal Reserve Chairman Jerome Powell will speak before the Senate Banking, Housing and Urban Affairs Committee on Tuesday morning.
Powell’s comments come as the central bank weighs the future of monetary policy and its impact on the inflation war. Officials have raised the prime rate eight times in the past year, bringing the federal funds rate to a target range of 4.50%-4.75%.
Markets are counting on Powell for clarity on how much further the Fed is likely to push rates. While inflation data began to taper off towards the end of 2022, January showed prices rising rapidly and could pose a threat in the future.
Powell will continue his remarks Tuesday with an appearance on Wednesday before the House Financial Services Committee.
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