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Eruptions Market Report 3-8-23

Federal Reserve Chairman Jerome Powell testifies on the Semi-annual Monetary Policy Report before the US House Financial Services Committee.

While his tone was slightly softer than previous speeches, Powell continues to emphasize the importance of bringing inflation down to 2%.

The rate hike decision for March as not yet been reached as the FED awaits new job numbers.

Powell stated that rate hikes will likely need to go higher than originally anticipated.

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