, Columnist
Ka-Powell: The Fed Reset Continues
Jerome Powell did not disappoint those who expected him to defend his policy of an extended period of restrictive interest rates. And takeaways from the yield-curve inversion.
In the spotlight.
Photographer: Al Drago/BloombergThis article is for subscribers only.
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Ahead of the testimony of Federal Reserve Chair Jerome Powell before Congress, the widespread expectation was that he would remain hawkish and lay the groundwork for a higher terminal rate. That he would defend his policy of staying in an extended period in restrictive territory and largely stick to his script. He fulfilled his side of the deal and did all of this. And yet many were still unprepared for just how hawkish the Fed boss was.