Federal Reserve Chair's Congressional Appointment
Sherrod Brown, the US Senate Banking Committee chair, revealed on Friday that Jerome Powell, Federal Reserve Chair, would testify before the committee. The hearing is scheduled for June 22nd at 10 am Eastern Time.
Implications of Powell's Testimony in US Monetary Policy
Powell's testimony before the Senate Banking Committee marks his second report to Congress this year. These semi-annual reports from the Fed Chair are vital to communicating the state of US monetary policy to Congress and the public.
Connecting Interest Rates and Inflation: What to Expect
The testimony is particularly noteworthy as it will follow the Federal Reserve's interest-rate-setting meeting, slated to occur a week prior. Analysts widely expect the Fed to hold steady on borrowing costs despite high inflation rates.