💬 Quoted…​​ “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated.”

In testimony before the Senate Banking Committee yesterday, Fed Chair Jerome Powell said the central bank would consider another 0.5% increase to benchmark interest rates after its policy-making committee meets on March 21-22, in an effort to tame persistently high inflation.

• All three US stock indexes dipped by roughly half-a-percentage-point as soon as Powell began speaking at 10 am ET, then continued to trend downwards for the rest of the day. (Dow: -1.7%; S&P: -1.5%; Nasdaq: -1.2%)

😡 Stat of the Day: 74% = the percentage of American consumers who have experienced a product or service problem in the past year, per the latest National Customer Rage Survey from Arizona State University’s business school. That’s up from 56% in 2017, and 32% in 1976.

🤯 Did You Know?... Almost one-third of childhood burn injuries can be attributed to instant noodles, per a new study from the University of Chicago.

📖 Worth a Read: ‘Is This It?’ When Success Isn’t Satisfying → (WSJ)