Watch Fed Chair Jerome Powell converse dwell on the second day of testimony on Capitol Hill
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Federal Reserve Chairman Jerome Powell testified before the House Financial Services Committee on Wednesday that markets will be watching closely.
On Tuesday, Powell told the Senate Banking Committee that the central bank could raise interest rates more aggressively if inflation data remains strong.
“If the body of data suggested that faster tightening was warranted, we would be willing to increase the pace of rate hikes,” Powell said, sparking a sell-off on Wall Street in both stocks and bonds.
Powell also offered commentary on the debt ceiling, cryptocurrency, and other topics.
A year after the first rate hike, the Fed still has a long way to go in the fight against inflation
The Fed’s Mester says she has hope that inflation can be brought down without a recession
The Fed’s James Bullard is pushing for faster rate hikes and sees a “good chance” of beating inflation