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Powell Faces Senate Questions Over Fed Plans to Contain Inflation
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Federal Reserve Chairman Jerome Powell is expected to win a second term leading the central bank but must first face a grilling Tuesday at his Senate confirmation hearing after pivoting recently to tighten policy to combat inflation.
When annual inflation readings began to rise above 4% last summer, Mr. Powell told lawmakers that it would be a mistake to raise interest rates in response to one-time increases in certain prices, like for air travel and used cars, whose prices were surging due the bumpy reopening of the U.S. economy.
Read more on wsj.comAbout this in other media
Jerome Powell’s Comments Over the Past Year Show Mounting Inflation Concerns wsj.com /2 years ago
Stock futures rise as investors assess Fed update cnbc.com /2 years ago
US Federal Reserve indicates increase in interest rates as inflation rises theguardian.com /2 years ago
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