- Powell will be delivering remarks to the US Congress next Wednesday: Fed Chair Powell’s semi-annual testimony on monetary policy before the US Senate Banking Committee
Coming up on 22 June 2022:
Federal Reserve Chair Jerome Powell heads to the US Congress for his semi-annual congressional testimony
- to testify before the Senate Banking Committee on Wednesday
- (then the House Financial Services Committee on Thursday)
Both the Fed and Congress want to lower inflation (as does Biden). Nevertheless, he’ll get a grilling from the Senators. Powell won’t be backing down on his commitment to hiking rates in the months ahead.
I’m awaiting the publication of Powell’s prepared testimony. Its in the Q&A to follow that spontaneous comments will occur.
Powell is up at 1330 GMT.