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 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.