Federal Reserve Chair Powell is heading to Congress on Wednesday and Thursday to current one in all his twice-a-year testimonies.

First up can be his look earlier than the Home Monetary Companies Committee on March 7:

at 10 am Washinton time (US Japanese time)
1500 GMT

That is colloquially generally known as the Humphrey-Hawkins testimony. It is a biannual report delivered by the Fed Chair to the Congress.

In it the Fed stories on its financial coverage and financial objectives to the Congress.

Powell will:

present an outline of present financial circumstances, and provides an replace of the Fed’s outlook for the economic system, centring on an evaluation of the inflation and employment outlook
will focus on the Fed’s financial coverage place presently, together with its modifications in rates of interest
take questions from ~~the~~ ~~geniuses in~~ members of Congress, which can cowl a variety of subjects throughout areas akin to how particular financial sectors are faring, regulatory insurance policies, and international financial points

The current messaging from Fed officers has been a watering down of fee minimize expectations. On the flip into the brand new yr these had reached insane requires six, and even seven, FOMC fee cuts in 2024. The Fed hosed that down fairly shortly and has reiterated the message in current weeks. Powell chimed in recently in a TV interview with feedback on the hazard of shifting too quickly, and too quick, saying the job of driving inflation down was not essentially full.