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Federal Reserve Chairman Jerome Powell will testify before the U.S. House Financial Services Committee on Wednesday in Capitol Hill.
The appearance follows Powell’s appearance before the Senate Banking, Housing and Urban Affairs Committee on Tuesday. Powell said U.S. economic growth remains solid, but acknowledged that the central bank currently believes the economy faces the twin risks of rising unemployment while inflation remains above its 2% target.
“Reducing policy restrictions too late or too little could unduly weaken economic activity and employment,” Powell said on Tuesday, referring to the risk that keeping interest rates high could also harm the economy.
Investors will be listening for any hints from Powell that the Fed may begin cutting interest rates. The central bank will meet later this month, but traders believe a rate cut in July is unlikely.
Delegates can also ask about the Fed’s oversight of banks, including the potential risks of commercial real estate to regional lenders.
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