Continuing to downplay the risks of inflation, Federal Reserve Chair Jerome Powell's testimony before the House Financial Services Committee on Wednesday seemed to suggest the central bank is not likely to begin tightening monetary policy anytime soon.
Powell told the committee in prepared remarks that "substantial further progress" towards the Fed's goals of maximum employment and price stability is "still a ways off."
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.