Reported about 1 year ago
U.S. Federal Reserve Chair Jerome Powell is set to present his semiannual testimony on monetary policy at the Senate Banking Committee on July 9, as confirmed by Senator Sherrod Brown's office. The schedule typically includes a follow-up testimony at the House Financial Services committee the next day. Powell, known for maintaining the central bank's independence from political influence, recently kept the policy rate steady at 5.25%-5.5%, hinting at a possible rate cut later in the year depending on economic conditions. Democrats have advocated for rate cuts to address housing affordability issues, raising speculation about the impact of such decisions on the upcoming presidential election.
Source: YAHOO