Hello, readers. I'm senior reporter Phil Rosen, writer of Insider's markets newsletter 10 Things Before the Opening Bell.
If you missed Jerome Powell's remarks from his first day on Capitol Hill yesterday, the TLDR is that more rate hikes are coming because the economy's still running hot.
Here's how Powell put it:
"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."