Posted 3/6/2024, 6:05:46 AM
Powell Navigates Tricky Waters on Economy, Inflation Ahead of Congressional Testimony
- Fed Chair Jerome Powell to testify to Congress this week on economy, inflation, and potential rate cuts
- Inflation still high and asset prices rising, worrying some Fed officials about "irrational exuberance"
- Data shows mixed signs on inflation outlook, bolstering case for both rate cuts and patience
- Powell looks to strike careful balance, laying groundwork for cuts but not committing to timing
- Fed decisions could impact economic conditions heading into 2024 presidential election rematch
