U.S. Fed chair Jerome Powell testifies in front of the Senate Banking Committee and warns law makers that inflation remains a severe threat. However, Powell insisted that the U.S. economy is now robust enough not to require additional pandemic-level monetary stimulus. Powell’s main task would be to keep inflation in check, as U.S. markets look ahead to a CPI print today which could hit a high not seen for 40 years. Tech stocks rally in Wall Street and Hong Kong. Chinese factory and consumer price growth has softened after Beijing moves to curb rising raw material costs. In the UK, Prime Minister Boris Johnson’s tenure looks increasingly fragile following fresh Covid rule-breaking allegations by his government. And we take you to St. Moritz, Switzerland with the latest from the Crypto Finance Conference.   

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