'If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes,' says US Federal Reserve Chair Jerome Powell.
he spoke of repeatedly in a February 1 news conference was not unfolding smoothly.
“Raising interest rates certainly won’t stop business from exploiting all these crises to jack up prices,” said Senator Sherrod Brown, a Democrat from Ohio who chairs the committee. “It could work out that way,” said Powell, who at a separate point in the hearing agreed with Democratic lawmakers’ assertions that lower corporate profits could help lower inflation, and with Republicans’ arguments that more energy production could help lower prices.
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