Recap of Fed Chair Powell's prepared testimony to Congress
The post on Federal Reserve System Chair Powell's pre-releed prepared testonty is here:
Powell is testifying before Congress, at the Select Subcommittee on Coronavirus Crisis, U.S. House of Representatives on Tuesday US time.
For a recap of his remarks (which are not overly interesting, I suspect his Q&A will be of more interest when it comes tomorrow) is here at CNBC if you are interested:
- Powell said price pressures have increased “notably,” but repeated his belief that after special factors ease, inflation will drift back to the Fed’s longer-term 2% target.