Fed Chair Powell says rate hikes, tighter policy will be needed to control inflation

Assessment: In addition to rate hikes, the Fed also is tapering its monthly bond purchases, which have added more than $4.5 trillion to its balance sheet since the early days of the pandemic … Federal Reserve Chairman Jerome Powell, with a seemingly clear path to a second term heading the central bank, declared Tuesday that the U.S. economy is both healthy enough and in need of tighter monetary policy. “A quart of wheat for a denarius,