Federal Reserve Chair Jerome Powell is set to appear before the Senate Banking Committee to deliver the first part of his two-day semiannual monetary policy testimony before Congress.
The US economy “slowed significantly” last year and inflation has moderated some, Powell said, but the process of getting back to the Fed’s 2% target rate will “likely be bumpy.” “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Powell said Tuesday.
However, the battle is not yet won, and Powell and other Fed officials have cautioned that disinflation will be bumpy and there’s a long “ways to go.” Fed policymakers have warned in recent weeks that interest rates will likely have to remain higher for longer in order for inflation to settle down to the central bank’s 2% target. This time last year, Powell’s congressional address came on the heels of Russia’s invasion of Ukraine, surging gas prices and a significant escalation in US inflation.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Gold drifts lower ahead of testimony by Fed's PowellGold trades modestly lower as investors await remarks by Federal Reserve Chair Jerome Powell.
Weiterlesen »
Gold Price Forecast: XAU/USD bulls focus on Federal Reserve Chairman Powell, United States jobs reportGold price (XAU/USD) began March on a front foot, by posting the first positive weekly close in five. The XAU/USD bulls keep the reins during the earl
Weiterlesen »
Senate to grill Federal Reserve chief Jerome Powell on efforts to tame inflationFederal Reserve Chief Jerome Powell's first appearance before Congress in nine months coincides with recent signs that the economy remains resilient and inflation still stubbornly high.
Weiterlesen »
Fed Chair Powell says interest rates are 'likely to be higher' than previously anticipatedCiting earlier data showing that inflation has reversed the deceleration in late 2022, Powell warned of tighter monetary policy ahead.
Weiterlesen »
Treasury yields fall as investors prepare for key economic data, Fed Chair Powell commentsU.S. Treasury yields fell on Monday as investors looked ahead to key data releases and comments from Federal Reserve Chairman Jerome Powell due this week.
Weiterlesen »
Stock futures are flat as Wall Street awaits Fed Chair Powell's comments: Live updatesThe Federal Reserve chair is set to give his latest remarks on the U.S. economy, and where he expects interest rates to go from here.
Weiterlesen »