Powell is appearing on Capitol Hill this week, with back-to-back hearings before lawmakers.
In recent months, Fed officials have said they want to see more economic data that confirms inflation is receding before lowering
"Reducing policy restraint too late or too little could unduly weaken economic activity and employment." The Fed has kept interest rates at a two-decade high for a year. Powell's testimony suggests that the central bank still wants to see more economic data that confirms cooler inflation before cutting rates.Powell will appear before lawmakers at a tricky moment for the economy. Inflation is well below its peak, but still higher than the Fed's 2% target.shows unemployment is rising. The jobless rate rose to 4.1% last month, the highest since 2021.
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