Powell to Face Fed Critics in Congress on High Rates, Bank Rules
- Fed chair will testify on Capitol Hill Tuesday and Wednesday
- Powell is likely to be pressured on Fed policy, independence
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Jerome Powell will face pressure this week from lawmakers growing impatient for the Federal Reserve to cut interest rates and others who are unhappy with its latest plan to boost capital requirements for Wall Street lenders.
The Fed chair heads to Capitol Hill on Tuesday and Wednesday for his semiannual testimony, more than two years after he and his colleagues began hiking rates in a bid to curb surging inflation.