Two testy Senate exchanges show the Fed's dilemma

Two senators — one Republican, one Democrat; one from Louisiana, the other from Massachusetts — gave Powell a hard time Tuesday on the same theme: that the central bank seems dead-set on putting millions of Americans out of work with monetary tightening.

The big picture: The two unusually testy exchanges were a preview of what is likely to be a key dynamic, both for the central bank and for U.S. political debates heading into the 2024 elections.

Why it matters: The persistence of elevated inflation and a red-hot job market have made hopes...