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 Forbes Explains CBDCs: Understanding the Rise of CBDCs READ MORE Bank of Canada Highlights Investment Need to Combat Inflation READ MORE World Bank Forecasts Bleak Economic Outlook: Worst Growth in 30 Years READ MORE Defying Expectations: Gold's Rally in a Strong Economic and Stock Market Environment READ MORE The Dollar's Reign to End Eventually, but Not Anytime Soon, Says Krugman READ MORE Add a Comment Cancel replyYour email address will not be published.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