Fed Chair Predicts Rough Ride Ahead for US Economy
The Federal Reserve Chair told members of Congress it could be a “bumpy” ride as they continue to try and get inflation under control.
Chair Jerome Powell said the Fed’s goal was still to get inflation down to 2%. The Fed has raised interest rates multiple times over the past year to try and help cool inflation, and Powell says that may need to happen at a faster rate because inflation is still out of control.
“If the totality of the data were to indicate that faster tightening is warranted, we’d be prepared to increase the pace of rate hikes,” Powell told the U.S. Senate.
Read the full story from CBN’s Matt Galka:
https://www1.cbn.com/cbnnews/us/2023/march/fed-chair-predicts-rough-ride-ahead-for-us-economy
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