With inflation and Ukraine, Powell must thread a needle on Capitol Hill this week to calm markets

Federal Reserve Chairman Jerome Powell is tasked with telling Congress this week that the central bank will be doing more to control inflation at a time when markets expect it will be doing less. With fears over the Russian invasion of Ukraine causing turmoil in the financial world, Wall Street has quietly dialed down its expectations for Fed action. Where markets had been expecting the Fed to raise interest rates up to seven times in 2022, recent pricing now indicates just five moves. That would be the equivalent of bringing the Fed’s benchmark short-term borrowing rate up about 125 basis points, or to a range between 1.25%-1.5%.
Source: CNBC