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Federal Reserve Chairman Jerome Powell will deliver his six-monthly monetary policy testimony to Congressional leaders and appear before the House Financial Services Committee on Tuesday.
In his prepared remarks, Powell focused on the “solid” state of the US economy, but said there were concerns about the impact of President Donald Trump’s tariffs on inflation.
“Policy changes continue to evolve and their impact on the economy remains uncertain,” he said. Powell added that he and his colleagues on the Federal Open Market Committee “are well positioned to wait to learn more about the potential of the economy before considering adjusting our policy stance.”
President Donald Trump and other administration officials have accused the Fed of not cutting interest rates. Referring to Powell, Trump called on Congressional leaders to work in “this very stupid and hard guy, over” early on Tuesday in the Truth Social Post.
read more:
This week, Federal Reserve Chair Powell speaks at the political frontline and center at Capitol Hill.
Fed has stabilized the key rate and is seeing two more cuts this year
Federal Reserve Governor Waller says the central bank can cut prices as early as July
Fed governor Bowman supports interest rate cuts in July when inflation is low
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