Jerome Powell Says Interest Rates Likely to Rise Further

The Fed chair returned to Capitol Hill for a second day of testimony

Jerome Powell, as the chair of the U.S. Federal Reserve, appears to hold the country’s economic health in his hands. It is a coveted role that has earned him both praise and criticism. Here’s how balancing aggressive and conservative policy got him to the top. Illustration: John McColgan for The Wall Street Journal

Federal Reserve Chair Jerome Powell said the central bank didn’t raise interest rates last week, as it wanted to slow down its historically rapid pace of increases, but stressed it would likely lift rates again in coming months.

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