Powell to Defend Fed's 'Higher-for-Longer' Rate Policy in Congressional Testimony Federal Reserve Chair Jerome Powell is set to testify before Congress this week, facing pressure from lawmakers on multiple fronts. He will likely defend the Fed’s stance on maintaining high interest rates to combat inflation, despite growing impatience for rate cuts. Powell will also address concerns about the Fed’s plan to increase capital requirements for major banks. As his last scheduled public address to Congress before the presidential election, Powell must navigate these issues while asserting the Fed’s political independence. Recent economic data showing a slowdown in inflation may influence the discussion, but Powell is expected to maintain a cautious approach to potential rate cuts. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Inflation's Persistence Creates Dilemma for Federal Reserve READ MORE Understanding Recession Indicators: Is the US Economy at Risk? READ MORE Small Business Bankruptcy Relief Shrinks as Subchapter V Expansion Expires READ MORE Stocks Face Mixed Start to June with Key Jobs Report Ahead READ MORE Over $20 Million in Gold Stolen in Canada’s Largest Airport Heist READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment