Federal Reserve Chair Jerome Powell is scheduled to testify before the House Financial Services Committee Wednesday, with markets intent on getting more clarity about how the central bank plans on proceeding with monetary policy this year.

The past several months have seen a changing dynamic between financial markets and the Fed over the pace and timing of expected interest rate cuts.

Inflation readings in the latter part of 2023 showed a clear trend toward the administration’s 2 percent target.

The event is expected to begin at 10 a.m. EST.

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