Watch: Powell testifies before Senate Banking Committee

Federal Reserve Chair Jerome Powell sat before the Senate Banking Committee on Tuesday morning to testify on the agency’s monetary policy.

The hearing came 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.

The hearing was scheduled to begin at 10 a.m. EST.

Watch the video replay above.