The Fed Archives | Email alerts

Feb. 11, 2020, 9:51 a.m. EST

Fed’s Powell talks to Congress about outlook for U.S. economy: live blog

Conronavirus concerns are front-and-center

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)

or Cancel Already have a watchlist? Log In

By Greg Robb, MarketWatch

Getty Images
Federal Reserve Board Chairman Jerome Powell arrives for testimony before a Senate panel last summer.

Federal Reserve Chairman Jerome Powell will testify to House Financial Services about the U.S. economic outlook on Tuesday.

While the economy appears to be growing moderately and inflation is expected to rise to the Fed’s 2% target, there are risks to the outlook, particularly from the deadly coronavirus, Powell said in his prepared remarks, which were released early by the committee.

Read: Fed’s Powell says risks to the U.S. economy remain

Having cut rates three times last year, the Fed is content to hold rates steady. But the coronavirus could lower the bar for another cut later this year.

The hearing will get underway at 10 a.m. Eastern.

Stocks /zigman2/quotes/210598065/realtime DJIA +0.36%  opened higher again on Tuesday as investors hope the spread of the coronavirus is slowing.

Follow along as lawmakers press Powell about the outlook.

US : Dow Jones Global
+91.91 +0.36%
Volume: 341.22M
June 1, 2020 5:27p

Greg Robb is a senior reporter for MarketWatch in Washington. Follow him on Twitter @grobb2000.

This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »
Link to MarketWatch's Slice.