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. …

Fed Chairman Powell: Inflation Likely to Be High in Coming Months

Fed officials are debating when and how to slow their purchases of $120 billion in government-backed monthly bonds, which will be the first step in moving policy away from the emergency. Powell said these discussions will continue at “coming meetings”. Daily Business Briefing Updated July 14, 2021 at 1:29 PM ET The central bank also …