Federal Reserve Chair Holds News Conference

C-SPAN: Federal Reserve Chair Jerome Powell said he doesn’t think the U.S. economy is in a recession, and that it “doesn’t make sense” because there are too many areas of the economy “performing too well,” such as the labor market. His remarks came during a press conference on the economy and monetary policy as he responded to a question on whether the U.S. was in a recession. Chair Powell also announced that interest rates will be raised by ¾ of a percentage point to get inflation under control, and that the Federal Reserve anticipates additional rate increases in the future.