As analysts and denizens of finance twitter half-seriously jest about this morning’s CPI print putting a July rate cut back into question, and thus cancelling out all the hard work Powell did yesterday trying to sound as dovish as possible, the Fed chairman is getting ready to begin his second day of Congressional testimony, this time before the Senate Banking Committee.
Republican Mike Crapo is the chairman, and it’s likely, with the chamber controlled by Republicans, that we could hear more questions about Powell’s plans to cut interest rates, as well as his economic outlook.
But hopefully for the Senators’ sake there are no more embarrassing flubs, like yesterday’s “Libra/Libor” mix-up.
Watch live below:
Read his prepared testimony here:
via ZeroHedge News https://ift.tt/2LfQ9Ge Tyler Durden