TechFlow news, according to Jinshi News, Federal Reserve Chair Powell will testify before the Senate Banking Committee on February 11 at 23:00, and deliver his semiannual monetary policy testimony before the House Financial Services Committee at the same time the following day. Previously, the Fed has failed to achieve its 2% inflation target since 2021, Vice Chair for Supervision Barr has announced he will soon step down, and newly appointed Treasury Secretary Bessent expressed support for Powell's policy decisions.
The dollar remains stable ahead of Chair Powell's upcoming testimony. In a report, Swissquote analyst Ipek Ozkardeskaya said Powell is expected to remain cautious about rate cuts despite increasing pressure from Trump to lower rates. She noted that U.S. economic growth remains solid, the labor market is healthy, and inflation is stable. She added that Trump's economic stimulus policies and tariff threats could also exacerbate inflation. Powell's cautious stance on rate cuts may provide support for the dollar.
