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Federal Reserve Chairman Jerome Powell testifies Wednesday before the Joint Economic Committee of Congress.
The occasion will give legislators the chance to question Powell on the state of the economy and where he sees interest rates heading. Central bankers this year have approved three rate cuts as part of a “mid-cycle adjustment” as growth has slowed in 2019.
After the Fed approved its most recent cut in late October, officials indicated that the moves likely are done for now as they view growth stable. President Donald Trump has been a frequent Fed critic, saying Tuesday in New York that nine previous rate hikes “were far too fast an increase” followed by “far too slow a decrease.”
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