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Federal Reserve Chairman Jerome Powell will testify before the U.S. House Financial Services Committee on Capitol Hill on Wednesday.
The appearance comes after Powell appeared before the Senate Banking, Housing and Urban Affairs Committee on Tuesday. There, Powell said U.S. economic growth remains solid, but acknowledged that the central bank now believes the economy faces a two-sided risk of rising unemployment, while inflation is still above the 2% target.
“Reducing policy restraint too late or too little could unnecessarily weaken economic activity and employment,” Powell said on Tuesday, referring to the risk that keeping interest rates high could also hurt the economy.
Investors will be listening for Powell’s clues as to when the Fed might start cutting rates. The central bank will meet later this month, although traders say a July cut is unlikely.
Representatives could also ask questions about the Fed’s supervision of banks, including the potential risks of commercial real estate for regional lenders.