Fed Chair Powell testifies on economy, monetary policy, and stablecoins, with no rush to cut rates

From Investing.com: 2025-02-12 01:46:00

Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee, stating the Fed is not rushing to lower rates. In his semiannual address, Powell discussed stablecoins, tariffs, and the state of monetary policy. He highlighted a strong economy, cooling labor market, and elevated inflation. Powell emphasized the need to balance policy restraint to progress on inflation and economic activity. He expressed support for a regulatory framework for stablecoins and ruled out launching a Central Bank Digital Currency. Powell will testify before the House of Representatives tomorrow, with markets slightly down post-testimony.



Read more at Investing.com: Powell Talks Stablecoins, Tariffs, and Why Fed Is in No Hurry to Cut Rates