Fed’s Powell testifies before Congress about U.S. economic outlook — live blog
Federal Reserve Chairman Jerome Powell will testify to House Financial Services about the U.S. economic outlook on Tuesday.
While the economy appears to be growing moderately and inflation is expected to rise to the Fed’s 2% target, there are risks to the outlook, particularly from the deadly coronavirus, Powell said in his prepared remarks, which were released early by the committee.Having cut rates three times last year, the Fed is content to hold rates steady. But the coronavirus could lower the bar for another cut later this year.Stocks DJIA, +0.
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