Federal Reserve Chair Testifies on Monetary Policy Report

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July 9, 2024

Federal Reserve Chair Jerome Powell stressed to lawmakers more positive economic and inflation data were needed before interest rates could …
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Federal Reserve Chair Jerome Powell stressed to lawmakers more positive economic and inflation data were needed before interest rates could be cut. He added he would not be forecasting any decreases during his testimony before the Senate Banking, Housing and Urban Development Committee. Chair Powell appeared before the committee to deliver the Federal Reserve’s semiannual Monetary Policy Report to Congress. Other topics that came up included capital requirements for banks, legal and illegal immigration’s impact on the economy, and housing market challenges. close

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