Powell sinks stocks: Top moments from Senate testimony
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#JeromePowell #youtube #stockmarket Federal Reserve Chairman Jerome Powell not mincing words when it comes to rate hikes. Powell telling the Senate Banking, Housing, and Urban Affairs Committee that, given recent strong economic data, interest rates will likely need to be “higher than previously anticipated.” In his first day of testimony on Capitol Hill, Powell faced questions about whether or not the Fed’s rate hikes will lead to higher unemployment. In one of the testier exchanges, Senator Elizabeth Warren (D-MA) asked Powell to address workers who may lose their jobs due to the Fed’s rate hike campaign. Powell responded that he would tell them “inflation is extremely high and it’s hurting […]