Federal Reserve Chair Powell testifies before the Senate committee on monetary policy — 3/7/24

Federal Reserve Chair Jerome Powell is back Thursday on Capitol Hill, offering to the Senate Banking Committee his second day of congressionally mandated testimony on the state of the economy and monetary policy.

In an appearance Wednesday before the House Financial Services Committee, the central bank chief reiterated that he expects interest rate cuts later this year but did not specify when. Instead, he said policy moves will depend on incoming data, and there isn’t enough evidence yet that inflation is headed back to the Fed’s 2% goal.

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Federal Reserve Chair Powell testifies before the Senate committee on monetary policy — 3/7/24

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