Federal Reserve Chair Jerome Powell Testifies on Inflation and the Economy

C-SPAN: Federal Reserve Chair Jerome Powell said a recession caused by interest rate hikes is “certainly a possibility,” during a Senate Banking Committee hearing. The chair’s testimony came a week after the Federal Reserve announced its largest interest rate hike in nearly 30 years in an attempt to slow inflation. Chair Powell said that despite fears of a recession the Fed intends to continue raising interest rates at an “appropriate” pace.