Federal Reserve Chairman Jerome Powell appears before the House Financial Services Committee to present the semiannual monetary policy report and discuss the state of the U.S. economy.
Powell still sees interest rate hikes coming, but noted Wednesday that the Russia-Ukraine war has injected uncertainty into the outlook.
In remarks prepared for dual appearances this week before House and Senate committees in Congress, the central bank chief acknowledged the “tremendous hardship” the Russian invasion of Ukraine is causing.
“The implications for the U.S. economy are highly uncertain, and we will be monitoring the situation closely,” Powell said.
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Fed Chair Jerome Powell testifies before Congress on monetary policy and economy — 3/2/22
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