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Fed’s Powell Set to Discuss Rate-Rise Plans With Senate Lawmakers
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WASHINGTON—Federal Reserve Chairman Jerome Powell is set to return to Capitol Hill on Thursday morning for the second of two days of testimony, this time before the Senate Banking Committee.
Before a House panel on Wednesday, Mr. Powell offered an unusually explicit preview of anticipated policy action when he said he would propose a quarter-percentage-point interest-rate increase at the central bank’s meeting in two weeks amid high inflation, strong economic demand and a tight labor market.
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