Fed Chair Goes Before Congress, Expects Rate Cuts This Year

Federal Reserve Chair Jerome Powell reiterated to lawmakers that the US central bank is in no rush to cut interest rates until policymakers are convinced they have won their battle over inflation. 

In prepared testimony, the Fed chief said it will likely be appropriate to begin lower borrowing costs “at some point this year,” but made clear officials are not ready yet. 

He is speaking before Congress in Washington.

#politics #fed #economy #business

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Видео Fed Chair Goes Before Congress, Expects Rate Cuts This Year канала Bloomberg Television