Jerome Powell is likely to tell lawmakers that Federal Reserve officials need further confirmation inflation is slowing before they’re in a position to cut interest rates, even with evidence building of softer growth and employment.
June consumer price index data are projected to be another step toward that goal, but the figures are only set for release on Thursday — after the Fed chair wraps up two days of Congressional testimony. Powell speaks Tuesday to the Senate Banking Committee, followed by a House panel appearance on Wednesday.
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