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Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee on Wednesday, completing his two-day virtual swing through Capitol Hill.
In comments delivered before the Senate Banking Committee a day ago, the central bank leader warned that the economic recovery remains a challenge and that the Fed is committed to using its policy tools to the full until employment and inflation reach acceptable levels. to achieve.
Powell characterized inflation as “soft” and said that while “inflation dynamics change over time, they don’t just change like that.” Markets enthusiastically greeted his comments, turning a sharp sell-off on Wall Street into a modest gain by the end of the trading day.
As with his appearance before the Senate Panel, Powell will make prepared comments, followed by a question and answer session with committee members.
Read more:
Powell says inflation is still “soft” and the Fed is sticking to current policies
A summary of Fed Chairman Powell’s comments on inflation and interest rates to the Senate
Finance Minister Janet Yellen urges major stimulus measures, sees a greater risk if he does not do enough
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