Fed Chair Jerome Powell testifies before Senate committee

The Senate Banking, Housing, and Urban Affairs Committee conducts a hearing on "The Semiannual Monetary Policy Report to the Congress" with Federal Reserve Chair Jerome Powell.
The hearing comes as interest rates were held steady late last month following a surge of price increases. The pause came as President Trump has been elbowing Powell to keep cutting rates to spur economic growth, reviving tensions between the White House and the Fed that were a hallmark of Trump’s first term.
Powell said last month that he would not resign from the position, even if asked to by Trump. The president did not move to oust him, and Treasury Secretary Scott Bessent seemingly agreed with letting the Fed chair serve out his term.