Fed Chair Powell says focus remains on dual mandate, we are committed to bringing inflation back down to 2%

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  Get the Latest on Powell’s Testimony: Implications for Investors and Bankers

• Fed Chair Powell says FOMC does not know the extent of the impact of tighter credit conditions; do not see the impact just yet, that argues for being alert when considering future rate hikes

• Powell’s testimony summary

  Fed Chair Powell says if incoming data indicates faster tightening is required, Fed is prepared…

• Fed Statement comparison

  Fed

• Fed’s Bowman (voter) says Fed is focused on lowering inflation and strong labour market has made finding workers extremely difficult

• Fed’s Barkin (non-voter) says high inflation means Fed still has work to do, labour market has been unbelievably resilient