U.S. Federal Reserve Chairman Jerome Powell testifies during the Senate Banking Committee hearing titled “The Semiannual Monetary Policy Report to the Congress”, in Washington, U.S., March 3, 2022.
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Federal Reserve Chairman Jerome Powell is slated to speak Monday at the National Association for Business Economics annual conference in Washington, D.C.
His remarks come less than a week after the Fed's first rate hike in more than three years. The Fed also signaled last week that it expects to raise rates at its remaining six meetings this year.
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The central bank also raised its outlook on U.S. inflation for 2022, and trimmed its economic growth forecast as well.
"Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher energy prices, and broader price pressures," the Fed said in a statement.
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