- ORIGINAL NEWS
Watch Fed Chair Powell testify live before Senate Banking Committee
- SUMMARY
Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee on Thursday, reaffirming his expectation for interest rate cuts in the future.
He stressed that the decision depends on incoming data, as there’s not yet enough evidence that inflation is slowing to the Fed’s target.
Powell faced questions on monetary policy and the proposed Basel III bank capital rules during this last public appearance before the next Fed meeting on March 19th and 20th.
- NEWS SENTIMENT CHECK
- Overall sentiment:
neutral
Positive
“In an appearance Wednesday before the House Financial Services Committee, the central bank chief reiterated that he expects interest rate cuts later this year”
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Negative
“Powell reinforces position that the Fed is not ready to start cutting interest rates”
“Key Fed inflation measure rose 0.4% in January as expected, up 2.8% from a year ago”
“Fed’s Waller wants more evidence inflation is cooling before cutting interest rates”