Reported about 1 year ago
Jerome Powell is set to appear before Congress facing pressure from lawmakers urging the Federal Reserve to cut interest rates and criticism over the plan to increase capital requirements for Wall Street lenders. Powell will defend the central bank's stance on rates and independence, as well as address concerns about inflation and job market cooling. Calls for rate cuts are escalating as the presidential election nears, with debates on the economy, mortgage rates, and financial regulations expected during Powell's testimony.
Source: YAHOO