US Rep. Hern (R) says Fed Chair Powell, in a meeting, indicated one more interest rate hike this year Powell told House GOP that supply chain inflation has been mostly mitigated.

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

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• FED’S POWELL: WE WILL NEED TO DO MORE RATE INCREASES, THEN LOOK AROUND AND SEE IF IT’S ENOUGH.

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

• Fed’s Mester says new inflation data affirms the case for more Fed rate hikes and it is going to take more tightening for the Fed to get inflation back to 2%; view on inflation and economy has not been changed by the latest data, according to Reuters