NANGAN, Taiwan (AP) — In the past month, bed and breakfast owner Chen Yu-lin had to tell his guests he couldn't provide them with the internet. Others living on Matsu, one of Taiwan’s outlying islands closer to neighboring China, had to struggle with paying electricity bills, making a doctor's appointment or receiving a package.

Citing earlier data showing that inflation has reversed the deceleration in late 2022, Powell warned of tighter monetary policy ahead.