Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation

Watch Jerome Powell testify to Congress on the economy and how the Fed plans to fight inflation


[This stream is set to start at 9:30 a.m. ET.]

Federal Reserve Chair Jerome Powell on Thursday concluded two days of testimony in front of Congress, speaking in front of House members.

In remarks for the Senate Banking Committee a day prior, Powell said the Fed understands the “the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so.”

Powell also said that economic conditions are generally favorable, pointing to a strong labor market and high demand.

Powell’s testimony comes after the Fed hiked rates by 75 basis points, or 0.75 percentage point, earlier this month. That marks the Fed’s biggest rate hike since 1994.

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.



Source

UK put on a war footing with defense overhaul — but is it too little, too late?
World

UK put on a war footing with defense overhaul — but is it too little, too late?

Britain’s Prime Minister Keir Starmer (C), Britain’s Defence Secretary John Healey (2nd R) and managing director of BAE Systems’ naval ships business Simon Lister (R) visit the BAE Systems’Govan facility, in Glasgow, on June 2, 2025. Britain announced it will build 12 new attack submarines as it unveiled a major defense review to deal with […]

Read More
European autos stocks fall 2% as Trump’s 50% steel tariffs inflate EU trade tensions
World

European autos stocks fall 2% as Trump’s 50% steel tariffs inflate EU trade tensions

Mid-morning market moves The mood in equities remains downbeat in Europe, with the regional Stoxx 600 index 0.25% lower at 10:30 a.m. U.K. time as investors eye the potential for escalating U.S.-EU tariffs. Autos stocks on the index are down 1.75%, technology stocks are down 1.2% and household goods are down 1%. Oil and gas […]

Read More
As the TACO trade goes viral, another is gaining traction: ‘Anywhere But The USA’
World

As the TACO trade goes viral, another is gaining traction: ‘Anywhere But The USA’

“It’s become quite emotive,” one market watcher told CNBC. “Nobody wants to invest in an environment where the government might change its mind overnight.” Source

Read More
Powered by WordPress | WP Magazine by WP Mag Plus