On Thursday, June 23, 2022, Chairman of the Federal Reserve Jerome Powell testified before the Committee of Financial Services in the House of Representatives. During this testimony, Powell discussed many of the issues relating to the responsibilities of the FED, largely explaining what role they were currently playing in the role of shaping monetary policy. With the rise of inflation, the federal reserve has decided to utilize the tools that they have access to, by raising interest rates by .75 percent. This is the largest increase in benchmark interest rates in almost 30 years, which shows how seriously the Federal Reserve views the rise in inflation that is currently occurring in the United States. However, during the questioning period of Powell’s testimony, it was clear that the two parties represented on the committee had vastly differing views on the causes of inflation, and what role the Federal Reserve should play in combatting its rise. The Dem