Eco Week Ahead
Inflation Is Proving Sticky as Fed Chair Powell Heads to the Hill
- UK GDP also due; ECB’s Lagarde will testify to lawmakers
- Philippines is set to cut rates while Russia likely to hold
Federal Reserve Chair Jerome Powell will deliver his semiannual testimony to lawmakers on Tuesday and Wednesday.
Photographer: Al Drago/BloombergThis article is for subscribers only.
US inflation showed scant signs of downward momentum at the start of the year, while healthy job growth undergirded the economy, backing the Federal Reserve’s stance to hold the line on interest rates for now.
Fed Chair Jerome Powell, who offers his semiannual testimony to lawmakers on Tuesday and Wednesday, will likely highlight the resilient economy as a key reason central bankers are in no rush to further cut borrowing costs. With the economy in a good place, Fed officials also have time to assess the impacts of the new Trump administration’s policy changes on trade, immigration and taxes.