Federal Reserve Chair Testifies on Monetary Policy Report
2023-06-22T10:00:35-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvMGM3XC8wMDNcLzE2ODc0NDMwMTZfMDAzLmpwZyIsImVkaXRzIjp7InJlc2l6ZSI6eyJmaXQiOiJjb3ZlciIsImhlaWdodCI6NTA2fX19Federal Reserve Chair Jerome Powell said that even though the Federal Reserve did not raise interest rates at their last meeting, there is a strong possibility of one to two interest rate hikes before the end of the year to help quell high inflation. Chair Powell appeared before the Senate Banking Committee to testify on the Federal Reserve’s semiannual monetary policy report. A variety of topics were discussed, including the labor market and job growth, financial regulations, wage growth, and the impact that proposed capital requirements might have on small and community banks. He also addressed the recent failures of several regional banks, including Silicon Valley Bank and Signature Bank, saying “the U.S. banking system is sound and resilient.”
Federal Reserve Chair Jerome Powell said that even though the Federal Reserve did not raise interest rates at their last meeting, there is a strong… read more
Federal Reserve Chair Jerome Powell said that even though the Federal Reserve did not raise interest rates at their last meeting, there is a strong possibility of one to two interest rate hikes before the end of the year to help quell high inflation. Chair Powell appeared before the Senate Banking Committee to testify on the Federal Reserve’s semiannual monetary policy report. A variety of topics were discussed, including the labor market and job growth, financial regulations, wage growth, and the impact that proposed capital requirements might have on small and community banks. He also addressed the recent failures of several regional banks, including Silicon Valley Bank and Signature Bank, saying “the U.S. banking system is sound and resilient.” close
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