Powell Seeks to Reassure Lawmakers Fed Will Curb Hot Inflation

Federal Reserve Chair Jerome Powell will try to reassure lawmakers this week that the central bank will act to curb the hottest inflation in four decades while remaining flexible in the face of uncertainty posed by Russia’s invasion of Ukraine.

Powell, in semiannual monetary-policy testimony to House and Senate panels starting Wednesday, is likely to signal the U.S. central bank will go ahead with plans for raising interest rates in March, with traders parsing his comments for hints of a potential half percentage-point move.

Steve Matthews | Yahoo Finance

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