Powell to Congress: "Rate Hikes Coming Despite Ukraine Invasion"

Federal Reserve chairman Jerome Powell testified before Congress on Wednesday about the near future path of monetary policy at the US central bank. He reiterated the plan has not changed. This plan includes the completion of net asset purchases to the fed's balance sheet, then beginning raising rates, and reducing the size of their balance sheet after that. But they are watching the Russia/Ukraine situation and that may cause them to change course.

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#fed #powell #ukraine #inflation #russia