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
NatWest and British Business Bank back Phoenix Court venture funds
The British Business Bank and NatWest have agreed to invest in funds run by Phoenix Court, the UK venture capital...
Tesco pledges £20m to Henry Dimbleby’s Bramble Partners food fund
Tesco has committed £20m to Bramble Partners, the venture capital fund set up by Leon co-founder Henry Dimbleby, and agreed...
Christian Bolding on Building a Business That Can Keep Growing
Christian Bolding has learned that growth can also create an entirely new set of challenges. The systems that work for...
Revolut pilots facial recognition checkout with no merchant fees
Revolut has today begun piloting what it describes as the UK’s first in-store facial recognition checkout, with merchants paying 0...
McDonald’s sets chicken market share goal as shares fall 6 per cent
McDonald’s has set a target of expanding its share of the global cooked chicken market by 1.5 percentage points, to...
Pedro Morales-Llanos on Solving Complex Organisational Problems
His career has centred on programme management, organisational change, business processes, technology, and helping complex organisations work more effectively. Born...
