Watch Powell's testimony to Congress on the Fed's inflation ...
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Federal Reserve Chair Jerome Powell on Wednesday began two days of testimony in front of Congress. The central bank chief is expected to provide ... SkipNavigationMarketsBusinessInvestingTechPoliticsCNBCTVWatchlistInvestingClubPROMenu[Thestreamissettostartat9:30a.m.ET]FederalReserveChairJeromePowellonWednesdaybegantwodaysoftestimonyinfrontofCongress.ThecentralbankchiefisexpectedtoprovideupdatesonthestateoftheeconomyandonhowtheFedplanstocurbinflationarypressuresnotseensincetheearly1980s.Theconsumerpriceindexlastmonthroseby8.6%,itshighestincreasesinceDecember1981.Earlierthismonth,theFedhikedratesby75basispoints,or0.75percentagepoint."Clearly,today's75basispointincreaseisanunusuallylargeone,andIdonotexpectmovesofthissizetobecommon,"Powellsaidthen.Headded,however,thatheseesthecentralbankraisingratesbyanother50or75basispointsnextmonth.SubscribetoCNBCPROforexclusiveinsightsandanalysis,andlivebusinessdayprogrammingfromaroundtheworld.TVWATCHLIVEWATCHINTHEAPPUPNEXT|ETListenTVWATCHLIVEWATCHINTHEAPPUPNEXT|ETListen
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