Powell Repeats Warning That the Fed Is Prepared to Speed Up Rate Hikes If Needed

Federal Reserve Chair Jerome Powell repeated his warning that officials will speed up their pace of interest-rate increases if necessary to defeat high inflation.

(Bloomberg) — Federal Reserve Chair Jerome Powell repeated his warning that officials will speed up their pace of interest-rate increases if necessary to defeat high inflation.

Powell’s prepared opening remarks Wednesday before the House Financial Services Committee, on his second day of semiannual congressional testimony, were identical to those he delivered Tuesday to the Senate Banking Committee.

To read his prepared remarks to the House, click here

For Bloomberg’s TOPLive blog on Wednesday’s hearing, click here

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