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As the global economy continues to navigate through unprecedented times, the financial world eagerly awaits the Federal Reserve's next move. 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. The hearings are Powell’s last scheduled public address to Congress ahead of the presidential election, and he’ll likely have to defend the central bank’s higher-for-longer policy stance as well as.
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