- Federal Reserve Chair Jerome Powell will testify before Congress Wednesday.
- Investors will be looking for clues in the Fed chair’s testimony about interest rate hikes.
- In late January, Powell signaled higher rates were all but certain. But this question is how fast will they rise.
As the stock market tumbles amid the prospect of higher interest rates and an escalating war between Russia and Ukraine, investors will be looking toward Federal Reserve Chair Jerome Powell’s congressional testimony Wednesday for some clues about the road ahead.
In late January, Powell signaled that a rate hike this month was all but certain as the Fed tries to contain the nation’s worst bout of inflation in 40 years.
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