Federal Reserve Chairman Jerome Powell He is set to return to Capitol Hill Thursday morning for a second day of two days of testimony, this time before the House Financial Services Committee.
before a Senate panel on WednesdayPowell said the central bank’s fight against inflation could push interest rates so high as to cause a recession. “It’s not exactly our intended outcome, but it’s certainly a possibility,” Mr. Powell told the Senate Banking Committee. “We are not trying to provoke and do not think we will need to provoke a recession, but we do think it is absolutely necessary to bring down inflation”, which running at 40-year high,