- Fed Chairman Jerome Powell cautioned that the causes of the recent rise in inflation may last longer than anticipated.
- The remarks are part of mandated testimony Powell must give to Congress regarding the Fed's economic response to the Covid-19 pandemic.
Federal Reserve Chairman Jerome Powell, in remarks to be delivered Tuesday, cautioned Washington legislators that the causes of the recent rise in inflation may last longer than anticipated.
In a speech that he will deliver to the Senate Banking Committee, the central bank chair said economic growth has "continued to strengthen" but has been met with upward price pressures caused by supply chain bottlenecks and other factors.
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