Federal Reserve Chair Jerome Powell Addresses Congressional Leaders on Monetary Policy
The stream is scheduled to start at 10a.m. ET. Please refresh the page if you do not see a player above at that time.
Federal Reserve Chair Jerome Powell delivered his semiannual monetary policy testimony to congressional leaders on Tuesday, starting with an appearance before the House Financial Services Committee.
In his prepared remarks, Powell acknowledged the “solid” condition of the U.S. economy but expressed concerns about the potential impact of President Donald Trump’s tariffs on inflation.
“Policy changes continue to evolve, and their effects on the economy remain uncertain,” Powell stated. He also mentioned that he and his Federal Open Market Committee colleagues are “well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.”
President Trump and other administration officials have criticized the Fed for not cutting rates. Trump specifically called out Powell in a Truth Social post early Tuesday, urging congressional leaders to address the situation with “this very dumb, hardheaded person.”
Key Points:
- Fed Chair Powell speaks on Capitol Hill this week with politics front and center
- Fed holds key rate steady, still sees two more cuts this year
- Fed Governor Waller says central bank could cut rates as early as July
- Fed Governor Bowman favors July interest rate cut if inflation stays low
