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Fed Chair Powell speaks on Capitol Hill this week with politics front and center
Federal Reserve Chair Jerome Powell heads to Capitol Hill this week, facing increasing pressure both from outside and inside the central bank to start the push for lower interest rates. Powell’s semiannual testimony to Congress kicks off Tuesday morning, as the central bank leader presents the Fed’s monetary policy report to the House Financial Services Committee. He then heads to the Senate Banking Committee on Wednesday. Generally, the congressionally mandated sessions allow the Fed chair to drop some basic comments about the state of the economy and monetary policy. Legislators then get a chance to ask ... (full story)