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Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), testifies once again on the semiannual Monetary Policy Report, this time before the House Financial Services Committee.
Key Highlights:
“No changes to my commitment; I will not resign if asked by Trump.”
” The Fed’s previous policy framework did not limit our response to inflation.”
“Fed makes its decisions based on what’s happening in the economy.”
“We have ways to go on shrinking the balance sheet.”
“We want to keep policy restrictive for now.”
“We are close but not there on inflation”.
“It is possible that the Fed would have to move the policy rate on tariffs
