Federal Reserve Chairman Jerome PowellJerome PowellBiden urges GOP to end blockade on his Fed picks Biden: Inflation ‘robbing’ benefits of strong economy Oil prices surge above 0 a barrel as war on Ukraine rages MORE is heading to testify on Capitol Hill amid dueling economic headwinds that could be exacerbated by war in Ukraine.
Powell will face two days of oversight hearings Wednesday and Thursday as the bank braces for a daunting battle with surging inflation.
The Fed chief will appear first before the House Financial Services Committee on Wednesday and then before the Senate Banking Committee on Thursday for hours of questioning from lawmakers about the bank’s plan to address inflation and its outlook for financial markets.
The U.S. economy has recovered rapidly from the COVID-19 recession, but stubborn pandemic-related supply snarls, labor shortages and unprecedented economic support has fueled the highest inflation…
