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Fed Chairman Jerome Powell will testify before the U.S. House Financial Services Committee on Wednesday in Capitol Hill.
The appearance follows Powell’s appearance before the Senate Banking, Housing and Urban Affairs Committee on Tuesday. Powell said U.S. economic growth remains solid, but acknowledged that the central bank currently believes the economy faces the twin risks of rising unemployment while inflation remains above its 2% target.
“Reducing policy restrictions too late or too little may Excessive weakening of economic activity Powell said on Tuesday he was referring to the risk that keeping interest rates high would also hurt the economy.
Investors will be listening for any hints from Powell that the Fed may begin cutting interest rates. The central bank will meet later this month, but traders see a rate cut in July as unlikely.
Delegates can also ask about the Fed’s oversight of banks, including the potential risks of commercial real estate to regional lenders.
