Skip to content
Subscriber Only

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

  • Lagarde, Macklem also speak, Israel and Korea set rates
  • Weekly take on events in the world economy and their fallout
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.