Posted 3/3/2024, 4:39:07 PM
Powell to Affirm Steady Rate Path in Testimony Despite Mounting Pressure
- Fed chief Powell expected to reinforce "no rush to cut rates" message in Congressional testimony this week
- Comes after recent inflation data showed price pressures persist in the economy
- Powell concerned about moving too soon before economy and inflation fully stabilized
- Testimony will press Powell on why rates being kept high when inflation progress made
- Jobs report on Friday will provide updated data on labor market strength
