From CNBC: 2024-07-10 09:17:46

Federal Reserve Chair Jerome Powell will testify before the U.S. House Financial Services Committee after appearing before the Senate Committee on Banking. Powell stated that U.S. economic growth remains solid, but there are risks of rising unemployment alongside inflation above the 2% target.

Powell warned that keeping interest rates high for too long could harm economic growth. Investors are eager to hear clues about potential rate cuts, with a meeting scheduled later this month. Questions may also focus on the Fed’s supervision of banks and the risks associated with commercial real estate.

Read more: Watch Fed Chair Powell testify live before House financial panel