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Federal Reserve Chairman Jerome Powell appears Tuesday before the House Committee on Financial Services as part of his semiannual testimony to Congress.
Powell said in prepared remarks that the Fed remains on hold in its interest rate stance following three cuts in 2019. Also, he said the central bank is continuing to watch developments regarding the coronavirus and its impact on global growth.
Read more:
Powell stresses that Fed is 'closely monitoring' coronavirus for hit to China and the world
What to look for from Fed Chair Powell's testimony
Markets are putting pressure on the Federal Reserve for at least one rate cut