Binance News
--
Powell faces pressure for a rate cut on Capitol Hill, which may rewrite the Federal Reserve's tradition
According to BlockBeats, on June 24, Federal Reserve Chairman Powell will head to Capitol Hill, facing pressure for a rate cut from both inside and outside the Federal Reserve, which may rewrite the Fed's tradition of 'staying away from politics' for nearly a decade.
On Tuesday at 22:00, Powell will submit his semiannual monetary policy report to the House Financial Services Committee, and on Wednesday, he will testify before the Senate Banking Committee.
Trump and his administration officials continue to exert pressure, and there are also cracks appearing within the Federal Reserve. Governors Bowman and Waller support a rate cut as early as July, both of whom were appointed during Trump's first term.
Powell's hearing may face bipartisan attacks: Republicans following Trump's call for monetary policy easing, and Democratic Senator Warren is also urging a rate cut.
On Tuesday at 22:00, Powell will submit his semiannual monetary policy report to the House Financial Services Committee, and on Wednesday, he will testify before the Senate Banking Committee.
Trump and his administration officials continue to exert pressure, and there are also cracks appearing within the Federal Reserve. Governors Bowman and Waller support a rate cut as early as July, both of whom were appointed during Trump's first term.
Powell's hearing may face bipartisan attacks: Republicans following Trump's call for monetary policy easing, and Democratic Senator Warren is also urging a rate cut.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.