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Federal Reserve Chairman Jerome Powell addresses members of the House Financial Services Committee Wednesday.
The central bank governor will report on the Fed’s monetary policy and economic views as part of the biannual appearances commissioned by Congress.
In comments prepared for the testimony, Powell noted that the economy had advanced but claimed that “there is still a long way to go” before the labor market recovered. He also said inflation “rose noticeably” but is likely to pull back when the economy returns to normal.
Powell will speak to the Senate Banking Committee again on Thursday.
Powell says the Fed is still a long way from changing policy and expects inflation to ease
Fed’s Mary Daly says the reduction in bond purchases could begin this year
Fed chairman Powell tasked this week with convincing Congress that simple politics are still required
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