Fed Chair Powell Warns of More Aggressive Rate Hikes to Address Inflation

C-SPAN: In his opening statement before the Senate Banking Committee on the state of the economy, Federal Reserve Chair Jerome Powell warns that more aggressive interest rate hikes may be needed to tamp down inflation and slow the economy. “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell tells lawmakers.