LIVE: Fed Chair Powell Testifies Before Senate Banking Committee — 10:00am ET. 6/22/23

Federal Reserve Chair Jerome Powell delivered the Semiannual Monetary Policy Report to the Senate Banking Committee, expressing the likelihood of future interest rate hikes due to elevated inflation. Powell acknowledged that inflation remains significantly above the target level and emphasized the need for continued efforts to bring it down to the desired 2%. While the labor market shows some signs of loosening, Powell noted that it remains relatively tight.

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