Economics
Powell to Face Pressure From Lawmakers Over Stimulus This Week
- Focus on need for ongoing support could bolster Biden aid plan
- Fed chair testifies Tuesday to Senate panel, House Wednesday
This article is for subscribers only.
Federal Reserve Chair Jerome Powell can expect pressure to support the stimulus plan of Democratic lawmakers when they host him this week on Capitol Hill for the first time since regaining control of Congress.
In testimony before the Senate Banking Committee on Tuesday and the House Financial Services panel the following day, Powell will probably play down the risk of inflation despite the size of President Joe Biden’s $1.9 trillion coronarvirus relief proposal.