Watch Fed Chair Jerome Powell testify live before House budget panel

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Federal Reserve Chairman Jerome Powell testifies Thursday on the state of the U.S. economy before the House Budget Committee.

The exchange comes a day after Powell spoke with the Joint Economic Committee of Congress, telling members that he feels comfortable with where interest rates are now given that the current growth patterns hold. Current levels are “likely to remain appropriate,” he said, though he did not commit on how long into the future the rate structure would hold.

Following a cut in late October, the Fed’s benchmark lending rate is in a targeted range between 1.5% and 1.75%. That comes as the result of three rate reductions this year that followed four increases the previous year.

In addition to speaking about rates, Powell also said Wednesday that he doesn’t consider climate change to be a principal concern for the Fed, and largely evaded multiple questions regarding politics.

Read more:
Fed Governor Lael Brainard: says the central bank needs to guard against climate change
The Fed’s monetary juice has tied directly to the rise in stocks: ‘Here we go again’
The Fed is still faltering on inflation, and one official is calling for ‘aggressive’ action

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