Category: Trial by Fire

Powell’s Testimony before Congress

Yesterday, 7 March 2023, Jerome Powell, the Federal Reserve Chairman, testified before the Senate Banking Committee—which happens twice a year during The Semiannual Monetary Policy Report to Congress. On 1 March 2023, the market deemed a 70% probability that the Fed would increase the target rate 25bps, to a range of 475-500bps. Following Powell’s two-hour-long testimony, […]