Bank of America

Good morning. I'm Phil Rosen, writing to you just blocks away from the Federal Reserve building in Manhattan. 

Yesterday on Capitol Hill, Jerome Powell reiterated his warning that the Fed's more than ready to keep jacking up rates if necessary. 

Inflation hasn't gone away as easily as policymakers want, and Powell thinks that may just warrant a steeper policy path. 

He did make clear, however, that nothing yet is set in stone (traders have doubled the expected odds of a half-point hike at this month's meeting).  

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Happy Friday eve, Opening Bell crew. Senior reporter Phil Rosen here. 

As if the universe knew that I hadn't written a crypto newsletter in some time, here we go: Binance, the world's largest crypto exchange, has been under some scrutiny this week.