Powell Set to Signal Possible Mid-Year Rate Cut Amid Solid Growth

• Fed Chair Jerome Powell to testify before Congress, could provide timeline for expected interest rate cuts later this year • Service sector growth slowed in February but still expanded for 13th straight month • Job openings dipped slightly in December but still remain above pre-pandemic average • Powell likely to signal first rate cut coming "later this year," possibly mid-June • February job growth expected to slow to 193,000 but still a healthy gain, pointing to continued labor market strength