United States Federal Reserve Chair Jerome Powell said on Wednesday that the bank anticipates ongoing rate increases “will be appropriate” to bring inflation down, but that the pace of hikes will continue to depend on the incoming data. “We will make our decisions meeting by meeting, and we will continue to communicate our thinking as clearly as possible. Our overarching focus is using our tools to bring inflation back down to our 2 percent goal and to keep longer-term inflation expectations well anchored,” we cannot fail on this task to bring inflation down to 2%, (NB: its the impossible without a depression it cannot be down because the inflation drivers are not financial in nature. He is wrong again and will overtighten the economy and bring on not only a recession but a full blown depression) Powell told the Senate Banking Committee. He conceded that inflation has “surprised to the upside” and that “further surprises could be in store,” assuring the Fed will be “highly attentive to inflation risks and determined to take the measures necessary to restore price stability” and that the US economy is “very strong and well positioned to handle tighter monetary policy.” NN: He is concentrating on inflation. Stock market and recession be damned. He will over tighten. Look its the biggest FED fuck up ever. Do you think he became smart all of a sudden.