At Extreme Investor Network, we pride ourselves on providing our readers with valuable insights and analysis on all things finance. Today, we are excited to bring you the latest updates on Federal Reserve Chair Jerome Powell’s testimony to the Senate Banking Committee.
In his semiannual address to Congress on monetary policy, Powell is expected to address the Fed’s current stance on interest rates. With the Fed holding rates steady, investors will be closely watching Powell’s remarks for any clues on when the central bank might start easing. At the June meeting, policymakers expressed concerns about the progress on inflation, emphasizing the need for more evidence that it is moving back towards the 2% target.
In his recent comments, Powell emphasized the importance of being confident that inflation is sustainable before considering any policy changes. This cautious approach reflects the Fed’s commitment to achieving its inflation goals while supporting economic growth.
Powell’s testimony will continue on Wednesday before the House Financial Services Committee, as mandated by the Humphrey-Hawkins Act of 1978. This provides an opportunity for lawmakers and the public to gain further insights into the Fed’s outlook and policy decisions.
For more in-depth analysis and coverage of Powell’s testimony, be sure to check out our latest articles on the topic:
– Powell says Fed has made progress on inflation but needs more confidence before cutting
– Fed says it’s not ready to cut rates until ‘greater confidence’ inflation is moving to 2% goal
– Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected
Stay informed and stay ahead of the curve by subscribing to Extreme Investor Network for all the latest news and updates in the world of finance.