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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.
Along with hits overview, he faced questions from committee members largely focused on the proper calibration of monetary policy, as well as his views on proposed bank capital rules known as the Basel III Endgame.
The testimony is Powell’s last scheduled public appearance before the next Fed meeting on March 19-20.
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