Federal Reserve Chair Jerome Powell stated that the central bank anticipates raising interest rates one or two more times this year, but at a slower pace.
Powell emphasized that the majority of the committee believes it would be appropriate to increase the federal funds rate once or twice by year-end.
The comments were made during Powell's testimony before the Senate Banking Committee, where he also discussed the Fed's approach to taming inflation and the potential for higher capital requirements for large US banks.
Powell highlighted the focus on the eight largest banks regarding capital requirements and reassured that smaller community banks would not be affected.
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