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Powell May Be Dovish in Congress Debut of Biden Era: Eco Week

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Jerome Powell

Jerome Powell

Photographer: Jim Lo Scalzo/EPA/Bloomberg

Federal Reserve Chair Jerome Powell is likely to emphasize a dovish message to Congress in his first testimony since Democrats took control of the Senate and White House.

The U.S. central bank chief, due to speak this week just as lawmakers weigh President Joe Biden’s plan for $1.9 trillion in additional pandemic aid, will probably echo recent remarks that the Fed is fully committed to supporting the economy, with the labor market far from its full employment goal and inflation below its 2% target.