Powell Senate testimony: Fewer interest-rate cuts seen in wake of hearing
Federal Reserve Chairman Jerome Powell will answer questions from members of the Senate Banking Committee starting at 10 a.m. Eastern. Economists hope the lawmakers will press Powell on what he means when he said there is "no hurry" to cut the benchmark interest rate any further.
Powell testimony live: Fed chair tells Senate bank is in ‘no hurry’ to cut interest rates
The Federal Reserve chair said in testimony to the Senate Committee on Banking, Housing and Urban Affairs on Tuesday: “With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance.”
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