Federal Reserve Chairman Jerome Powell will testify before the Senate Banking Committee on Wednesday, as part of his semiannual appearance before Congress.
Following his first testimony on Tuesday, Powell will attempt to convince legislators that he can fight inflation without risking dragging down the economy. Democratic lawmakers in particular are concerned that the Fed might weaken the economy with its determination to bring down inflation.
Markets have also been anxious over whether Powell can pull it off. They are worried the Fed might go overboard but also want it to bring inflation down.
Powell is also slated to appear before the House Financial Services Committee on Wednesday.
The event is scheduled to begin at 10 a.m. ET.
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