The Federal Reserve chairman Jerome Powell will testify before the U.S. Senate Committee on Banking, Housing, and Urban Affairs today at 15:00 GMT. He will use the same opening remarks he delivered yesterday to the U.S. House Financial Services Committee.
As a reminder, in those remarks, the Fed's chief stated that it would likely be appropriate to begin policy easing at some point this year but emphasized the necessity of greater confidence that inflation is moving sustainably toward the 2% target before cutting interest rates.
Wednesday's remarks by Powell left intact expectations that at least four 25-basis-point rate decreases will be approved by the U.S. central bank this year, with the first cut coming in June.