Feds

Fed Facing New Tension Due to a Republican-Controlled House

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After working with a generally cooperative Congress over the previous two years, Federal Reserve Chair Jerome Powell now confronts escalating tensions over his policies, as Democrats warn of job losses and Republicans continue to emphasize the significance of price stability.

Interest Rates to Increase

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The rate increases are expected to bring down inflation, but will also cause pain for households and businesses, said Powell. He added that it would be far more painful if we didn’t restore price stability.
Following Mr. Powell’s remarks, which were unusually brief for such an event, U.S. stocks fell sharply, and bond prices edged lower