Federal Reserve Chairman Jerome Powell is set to appear at a hearing on Sept. 28 where he will tell Congress that inflation is likely to stay elevated over the next few months. Powell will speak Tuesday morning before the Committee on Banking, Housing, and Urban Affairs, in Washington, D.C. as part of a mandated testimony regarding the Fed’s economic response to the COVID-19 pandemic. In a prepared speech, published by the Federal Reserve on Tuesday, Powell notes that the “economy has continued to strengthen” and conditions in the labor market have also enhanced. Real gross domestic product also “rose at a robust pace in the first half of the year,” while its expected that growth will continue at a strong pace for the remainder of the year. Sectors that were the hardest-hit by the pandemic have also improved, Powell said, but an increase in COVID-19 cases has slowed recovery. At the start of the …