Federal Reserve Chairman Jerome Powell insists the United States is "squarely focused" on getting back to its desired 2% inflation goal, although there is still a "long way to go," he says, as inflationary pressures continue to run deep.
The head of the country's central bank was speaking at Wednesday's semiannual monetary policy hearing in front of Congress's House Financial Services Committee, where he warned the US remains "very far off" its target and that interest rates may need to rise to counter persistently high prices.
Benji Hyer was following the session.
IN: In his opening
OUT: SOC
DUR: 45 secs
http://www.fsnradionews.com/feeds/0621fed-bh-generic.mp3