The Dow Jones and S&P 500 futures were trading in the red in early trading Wednesday ahead of U.S. Federal Reserve Chairman Jerome Powell’s congressional testimony.
The Federal Reserve has promised to fight inflation unconditionally while also warning about a rise in inflation expectations in its latest Monetary Policy Report.
The Fed is pondering the largest increase in interest rates in nearly three decades to fight stubborn inflation. A finance expert explains what’s happening, the risks and what it means for consumers.