With inflation in the United States still excessive, most Federal Reserve officials expect to raise interest rates further this year, Chair Jerome Powell said in prepared testimony to be delivered to a House committee.
By CHRISTOPHER RUGABERFederal Reserve Chairman Jerome Powell arrives for a House Financial Services Committee hearing in Washington, Wednesday, June 21, 2023. Federal Reserve Chairman Jerome Powell arrives for a House Financial Services Committee hearing in Washington, Wednesday, June 21, 2023.
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