Fed Chair Powell reiterates good news is bad news 🙃

Economic data is 'stronger than expected,' so interest rates will likely go 'higher than previously anticipated' 👎

Fed Chair Jerome Powell speaks before the Senate Banking Committee. (Source: banking.senate.gov)

Federal Reserve Chair Jerome Powell cautioned that the surprising strength of the economy is bad news for inflation.

From Powell’s prepared remarks to the Senate Banking Committee on Tuesday (emphasis added):

The data from January on employment, consumer spend…