WATCH LIVE: Jerome Powell testifies to Senate after dismissing July rate cut
Federal Reserve chairman Jerome Powell is set to testify before the Senate Banking Committee on Wednesday at 10 a.m.,marking the second day of his congressional testimony. In his previous appearance before the House Financial services Committee, Powell indicated that the Fed may not lower its interest rate target in July, a stance that contradicts President Donald Trump’s views, as Powell believes Trump’s tariffs could lead to increased inflation. Analysts expect Powell to reiterate his position during the upcoming Senate hearing. The testimony can be viewed live on YouTube.
WATCH LIVE: Jerome Powell testifies to Senate after dismissing July rate cut
Federal Reserve Chairman Jerome Powell will testify before the Senate Banking Committee at 10 a.m. Wednesday for his second consecutive day of congressional testimony.
During his appearance before the House Financial Service Committee on Tuesday, Powell said the central bank may not cut its interest rate target in July. His position puts him at odds with President Donald Trump, whose tariffs Powell believes will raise inflation.
Powell will likely repeat the same message at Wednesday’s Senate hearing.
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