Watch live: Fed Chairman Jerome Powell testifies in Congress with tariffs looming
Federal Reserve Chair Jerome Powell heads to Capitol Hill for two days of testimony this week before House and Senate committees that oversee the central bank and the financial industry. Fed chairs are required by law to appear before Congress twice a year.
The hearings come as President Donald Trump announced 25% tariffs on all foreign steel and aluminum coming into the country.
Members of Congress may urge that he cut rates more quickly. He will also likely be grilled about issues that are taking a higher profile under the Trump administration, such as crypto regulation, banking regulation, and allegations of “de-banking.”
The government said Friday that employers added a solid number of jobs last month while the unemployment rate ticked down for the second straight month to 4%, historically quite low. Hiring in November and December was revised much higher.
The jobs report “bolsters our confidence that the Fed cutting cycle is over,” economists at Bank of America wrote in a note Friday.
While Fed officials penciled in two rate cuts this year at their December meeting, economists and Wall Street investors are increasingly skeptical, with some predicting no reductions at all this year.
More Stories
Bloodbath on Wall Street as Democrats seize Congress
Technology stocks led the selloff, wiping out trillions in market value Wall Street suffered a massive selloff on Thursday, led...
What Happens If a Gas Safety Check Fails? A Landlord’s Guide to Unsafe Appliances
A failed check does not necessarily mean the entire property is unsafe or that the whole heating system must be...
Landlord Compliance for HMOs: Which Safety Checks Are Actually Required?
Missing a required inspection or allowing a certificate to expire can create legal problems, delay a licence application and put...
Fire Door Costs for UK Businesses: What Commercial Landlords and SME Owners Should Budget For
The final cost of the fire door installation will vary based on the number of doors, type of door, whether...
What Is an Energy Performance Certificate and Why Does It Matter?
The certificate also gives an indication of the energy performance of the property and suggests what changes may be made...
Putin puts Japanese tobacco giant’s Russian assets under temporary control
The decision affects four businesses belonging to Japan’s JTI, the maker of Winston, Camel and Sobranie cigarettes Russian President Vladimir...
