Federal Reserve Chair Jerome Powell was back on Capitol Hill for his second day of testimony. This time he was in front of the Senate Committee on Banking, Housing, and Urban Affairs. Powell has said recent economic data would likely have justified cutting interest rates,

U.S. Federal Reserve Chair Jerome Powell resumed two days of congressional testimony on Wednesday, appearing before the Senate Banking Committee after scrutiny before a House panel the day before that focused on the Fed's concerns that the Trump administration's tariff plans will raise inflation.

Waller highlighted that inflation has been running close to the Fed’s 2% target, and said the current rate setting (targeting 4.25%-4.5%) is 1.25 to 1.5 percentage points above neutral -- in other words,

Follow live coverage and the latest news from Federal Reserve Chairman Jerome Powell. He'll speak to both chambers of Congress, testifying on Tuesday to the House and on Wednesday to the Senate.

Here are the key takeaways from Federal Reserve Chair Jerome Powell’s testimony before the House Financial Services Committee Tuesday:

Federal Reserve Chair Jerome Powell is in no hurry to lower interest rates despite multiple calls from President Trump to drop them. Testifying before the House Financial Services Committee on