Federal Reserve Chair Jerome Powell’s testimony is a semi-annual update to Congress on the state of the U.S. economy and the Federal Reserve’s monetary policy. During his testimony, Chair Powell addresses key economic indicators such as inflation, employment, and the Federal Reserve’s plans for interest rates. This testimony is closely monitored by investors and market participants, as it can significantly influence financial markets and economic expectations.

In his recent testimony, Chair Powell emphasized concerns about inflation and the Federal Reserve’s cautious approach to adjusting interest rates. He stressed the importance of maintaining economic stability and managing inflation expectations.

The Federal Reserve Chairman’s testimony before Congress or its individual committees, such as the Joint Economic Committee, provides an overview of the current economic outlook of the U.S. and explains the Federal Reserve’s recent monetary policy actions.

The testimony is divided into two parts: the Chairman’s statement and a question-and-answer session. The second part may have a notable short-term impact on the value of the U.S. dollar.