US Federal Reserve Chair Jerome Powell testifies in front of the Senate Banking and Housing Committee.
Powell said “more good data” would strengthen confidence that inflation is moving down toward the US central bank’s 2% target, and recent readings point to “modest further progress” on prices.
He also spoke about the housing market, risks to monetary policy, recent inflation data, risk to the commercial real estate market, and the proposed changes of Basel III.
This is part of his semiannual report to Congress. He’s scheduled to start at 10 am ET.
#fed #business #politics
Read more: https://www.bloomberg.com/news/live-blog/2024-07-09/fed-s-powell-testifies-in-senate?srnd=homepage-americas
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