Federal Reserve

Watch Fed Chairman Jerome Powell testify before Congress

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Federal Reserve Chairman Jerome Powell delivers his semiannual testimony to Congress this week, with an appearance Tuesday in the Senate and Wednesday in the House of Representatives.

Among the topics he likely will address: The central bank's plans to continue raising interest rates, his views on the global trade war and how it might affect monetary policy, and the Fed's general outlook on inflation and the economy.

He also could be questioned about the progress the Fed has made in unwinding its balance sheet, a $4.3 trillion portfolio of bonds the bank accumulated during its efforts to stimulate the economy. However, he is not expected to provide a specific timetable about when the Fed will halt the reduction of the balance sheet, a process that began in October by allowing a set level of proceeds to run off each month.

Read more:
The Fed says the trade war is already causing businesses to scale back spending

Fed: Letting inflation run too hot could lead to 'a significant economic downturn'

The U.S. labor shortage is reaching a critical point

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