According to BlockBeats, on June 24, Federal Reserve Chairman Powell will head to Capitol Hill, facing pressure to cut interest rates 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 present the semiannual monetary policy report to the House Financial Services Committee, then move on to the Senate Banking Committee on Wednesday.
Trump and his administration officials continue to exert pressure, and there are also rifts 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 encounter bipartisan pressure: Republicans following Trump's call to loosen monetary policy, and Democratic Senator Warren also advocating for a rate cut.