Watch Fed Chair Powell speak live on rate hikes and more to a House panel

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Federal Reserve Chairman Jerome Powell speaks Wednesday to the House Financial Services Committee successful the archetypal of 2 days connected Capitol Hill wherever helium volition beryllium testifying connected monetary policy. The sessions are held doubly each year.

In prepared remarks, Powell reiterated that Fed officials expect aggregate further involvement complaint increases this twelvemonth to tackle ostentation that helium said is inactive excessively high.

"Inflation has moderated somewhat since the mediate of past year," helium said. "Nonetheless, ostentation pressures proceed to tally high, and the process of getting ostentation backmost down to 2% has a agelong mode to go."

The Fed has raised rates 10 times since March 2022, but ostentation is inactive good supra the cardinal bank's 2% target.

Along with his comments connected monetary policy, Powell noted that officials are attuned to the request for prudent fiscal and regulatory controls implicit a banking assemblage that experienced turmoil successful the aboriginal portion of the year.

Powell volition talk Thursday to the Senate Banking Committee.

Read more:
Fed holds disconnected connected complaint hike, but says 2 much are coming aboriginal this year
Inflation roseate astatine a 4% yearly complaint successful May, the lowest successful 2 years
Former Fed Chair Ben Bernanke says there's much enactment up to power inflation