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Podcast: The Schaftlein Report
Episode: Schaftlein Report | Inflation and Gas Prices Dominate Powell testimony before Senate
Description: Topics: 1) Crude Oil prices fall to $103 per barrel as recession fears hit market - But for how long? 2) Fed chairman Powell: "higher rates will moderate asset prices" *"Price stability is the bedrock for the economy" - We do not have that right now **Inflation is a supply demand imbalance and a policy error of the Biden administration and the Federal Reserve 3) The current Fed funds rate is 1.6% - Powell says it will be 3-3.5% by year end 4) Biden and some Democratic Senators blame oil companies - Chevron fires back at the criticism 5...