Reigniting optimism about a near-term interest rate cut, Federal Reserve Jerome Powell is prepared to tell lawmakers that crosscurrents have continued to weigh on the U.S. economic outlook since the central bank's June meeting.
Powell's prepared remarks before the House Financial Services Committee on Wednesday note crosscurrents, such as trade tensions and concerns about global growth, have been weighing on economic activity and the outlook.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.