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Federal Reserve Chair Jerome Powell delivered his highly anticipated semiannual monetary policy testimony before the Senate Banking Committee on Tuesday. Citing stubbornly elevated inflation and stronger than expected economic data, Powell told lawmakers the "ultimate level of interest rates is likely to be higher than previously anticipated.
The Dow Jones and S&P 500 plunged as increasingly hawkish testimony from Federal Reserve Chair Jerome Powell offered markets a reality check. Is a 50-basis point rate hike the next move?
Pound US Dollar (GBP/USD) Exchange Rate Falls as Cost of Living Pressures Take Spotlight | Currency News UK
The S&P 500 may be put on the defensive ahead of Fed Chairman Jerome Powell’s testimony amid an EU summit and a cascade of crucial PMI data.
Pound US Dollar (GBP/USD) Exchange Rate Wavers ahead of Central Bank Speeches | Currency News UK