Powell speech: Reiterates we need to move on from the word transitory

Fed Chair Jerome Powell is currently testifying before the House Financial Services Committee alongside US Treasury Secretary Janet Yellen. 

Key takeaways:

"We need to move on from the word transitory."

"The risks of higher inflation have moved up."

"Demand is very, very strong from fiscal policy and a quickly rebounding economy."

"The economy is very strong now."