Federal Reserve Chairman Jerome Powell told Congress Tuesday that if the pace of price increases do not come down, the central bank will get more aggressive with raising short-term borrowing costs.
“If we see inflation persisting at high levels, longer than expected, if we have to raise interest rates more over time, then we will,” Powell said in a Senate Banking Committee hearing.
Powell is facing the Senate for his renomination. President Joe Biden announced in November that he was…
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