Earlier this week, at a hearing before the U.S. Senate Banking Committee, Federal Reserve Chairman Jerome Powell told Congress it’s “essential” to bring inflation down to a more sustainable rate. Powell insisted that the Fed isn’t “trying to provoke” a recession, but acknowledged that it was “certainly a possibility” that efforts to slow down the economy through interest rate hikes could help to create one.⁠

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✍️ : Yahoo News ⁠
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