Federal Reserve Chair to Testify Before Congress

When Federal Reserve chairman Jerome H. Powell appears before the Senate Banking Committee on Thursday, he will testify at a tense moment, both politically and economically, given the recent rise in inflation. Consumer Price Index skyrocketed It was 5.4 percent year-on-year in June, the biggest increase since 2008, and a bigger move than economists had …

Fed chief will appear before Congress again as inflation

Center Jerome Powell attributed the rapid price increases to factors linked to the reopening of the economy from the pandemic. Credit…Luca Bruno/Associated Press When Federal Reserve chairman Jerome H. Powell appears before the Senate Banking Committee on Thursday, he will testify at a tense moment, both politically and economically, given the recent rise in inflation. …