Recession

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: 

Hey there readers. Phil Rosen here — writing to you from behind a cup of coffee that definitely feels more expensive than it was a year ago. 

You don't need me to tell you inflation has stayed stubbornly high for a while now, despite the Federal Reserve's aggressive bid to cool it down.

In June, inflation reached a four-decade high, and while it's eased somewhat since then, everyday Americans are still feeling the heat.