The Federal Reserve’s plan to end the loose money policies used to fight the coronavirus pandemic is facing an unexpectedly early test as the Russian invasion of Ukraine poses new economic and financial risks already being felt in global markets.
Fed Chair Jerome Powell is scheduled to testify before Congress on Wednesday and Thursday, and his first comments on the economy in nearly five weeks will confront a situation that has become markedly more complex since January when he outlined a straight-forward central bank effort to address high U.S. inflation.
