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Federal Reserve Chairman Jerome Powell is in the second day Wednesday of his congressionally mandated testimony before Congress. He is speaking to the House Financial Services Committee.
During his Tuesday appearance before the Senate Committee on Banking, Housing and Urban Affairs, the central bank leader described the economy as "healthy" and said the outlook is "favorable," though he warned that problems abroad could seep into the U.S.
Powell also assured Senate officials that low inflation pressures are allowing the Fed to be patient when it comes to the future policy path. The Fed raised its benchmark interest rate four times in 2018 and has indicated two more for 2019, though markets doubt that will happen.
Read more:
Powell says economic theory of unlimited borrowing supported by Ocasio-Cortez is just 'wrong'
Fed Chief Powell on mounting US debt: It would be a 'very big deal' to not pay our bills when due
The Fed is about to start public sessions on how it can improve policy
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