Finance

Watch day two of Fed Chairman Jerome Powell’s testimony to Congress

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Federal Reserve Chairman Jerome Powell resumed his two-day semiannual testimony on monetary policy to the Senate Banking Committee on Thursday.

In the first day of hearing in front of the House Financial Services Committee, the Fed chief noted that business investment has slowed down “notably,” adding the outlook has not improved in recent weeks. Powell added the central bank will “act as appropriate” to sustain expansion as “crosscurrents” are weighing on the economic outlook.

Major U.S. stock indices hit record-highs after Powell’s statement fueled hopes for a…



Source cnbc.com

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