Federal Reserve Chair Jerome Powell pledged "to prevent higher inflation from becoming entrenched" in comments prepared for delivery at a congressional hearing on Tuesday, where the high pace of price increases is likely to be a central topic.
Powell did not mention the U.S. central bank's plans to hike interest rates explicitly in brief opening remarks for his nomination hearing before the Senate Banking Committee for a second four-year term as head of the Fed.
Takes LESS Than 10 Minutes a Week!
Averaged 32.26% Gains in Weekly Income over a one-year period.
Powell noted that the economy was facing "persistent supply and demand imbalances" during the pandemic reopening and that the resulting high inflation "exacts a toll," particularly on the poor.
I hope this article helps in your trading strategy.