Episode 6: Fed Reserve Chair tells Congress inflation to be 'elevated for months'

Federal Reserve Chairman Jerome Powell tried to calm lawmakers’ fears about rising inflation but also said it would probably remain elevated for months to come.

Testifying before Congress this week, Powell said the Federal Reserve was willing to step in to address the situation, but that inflation should level out next year.

Powell’s testimony comes on the heels of troubling news of a major spike in inflation. The Bureau of Labor Statistics Tuesday released federal data showing the largest one-month spike in consumer prices in more than a decade.

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