chair Jerome Powell said it would be appropriate for the central bank to raise interest rates 0.25% at its meeting in two weeks amid steep , but declined to predict how the Russia-Ukraine war will affect the U.S. economy. 'I think it is appropriate for us to move ahead. Inflation is too high,' he said in remarks before the House Financial Services Committee. 'I'm inclined to propose and support a 25 basis point rate increase,' Powell continued, adding that rates may rise more aggressively depending on the affects of the war in .
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