Topline
One day after Federal Reserve Chair Jerome Powell caught investors off guard by striking a more hawkish tone than expected, the central banker is set to give the U.S. House additional details about how aggressively the Fed will push forward on its policy in the coming weeks, but economists have already raised their expectations for interest rate hikes to as much as 6%.
Key Facts
Speaking before the House Financial Services Committee, Powell on Wednesday doubled down on his testimony before the Senate just one day earlier that pushed the yield curve inversion to extreme levels and wreaked havoc on the stock market, resulting in one of the worst days of the year for major indexes.
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