July 15, 2024
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ECONOMY INFLATION

Top Finance Expert Jerome Powell Spills Secrets LIVE on Senate Banking Panel – Don’t Miss a Second!

Top Finance Expert Jerome Powell Spills Secrets LIVE on Senate Banking Panel – Don’t Miss a Second!

As the clock strikes 10 a.m. ET, all eyes are on Federal Reserve Chair Jerome Powell as he takes the virtual stage before the Senate Banking Committee. This event marks his semiannual address to Congress on monetary policy, shedding light on the current economic landscape.

Key points to look out for during Powell’s address include:

  • Interest Rates Hold: Despite the Federal Reserve staying steadfast on interest rates, Powell’s every word will be parsed for clues on the conditions necessary to kickstart easing measures.
  • Inflation Concerns: In the wake of the June meeting, policymakers sounded alarms about the pace of inflation, emphasizing the need for concrete evidence that inflation is making notable strides towards the coveted 2% target.

In a recent statement, Powell emphasized the need to see a sustainable downward trend in inflation before embarking on any policy adjustments.

Following his Senate session, Powell will proceed to testify before the House Financial Services Committee, compelled by the Humphrey-Hawkins Act of 1978.

Despite signs of progress, Powell’s overarching message remains clear: more assurance is required before any potential policy shifts are made.

In conclusion, Powell’s testimony serves as a crucial gauge for the ongoing economic narrative. Stay tuned for updates on the Federal Reserve’s stance and the evolving landscape of monetary policy.

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