High inflation is taking a toll on American families, Federal Reserve Chair Jerome Powell acknowledged in remarks to be delivered at a Tuesday congressional hearing, where he is sure to face tough questions on the subject. “We know that high inflation exacts a toll, particularly for those less able to meet the higher costs of essentials like food, housing, and transportation,” Powell said in prepared testimony that was made public Monday. The Senate Banking Committee will hold a hearing on Powell's nomination to a second four-year term Tuesday.
Warren, a Democrat and member of the Senate Banking Committee, is one of the lawmakers Powell will appear before on Tuesday as the committee considers whether to progress his renomination. Powell is expected to be reconfirmed. "I am deeply concerned that your continued refusal to release information about Fed officials' trading is at odds with your stated commitment to address the scandal 'forthrightly and transparently' and. it raises suspicions that the Fed may be failing to disclose the full scope of the scandal to the public," Warren wrote in a letter to Powell.
Warren, a Democrat and member of the Senate Banking Committee, is one of the lawmakers Powell will appear before on Tuesday as the committee considers whether to progress his renomination. Powell is expected to be reconfirmed. "I am deeply concerned that your continued refusal to release information about Fed officials' trading is at odds with your stated commitment to address the scandal 'forthrightly and transparently' and. it raises suspicions that the Fed may be failing to disclose the full scope of the scandal to the public," Warren wrote in a letter to Powell.
NEW YORK, Jan. 8 (Xinhua) Wall Street wrapped up the first trading week of 2022 with losses as investors assessed faster-than-expected Federal Reserve policy