"Powell's Testimony: Impact on Wall Street and Interest Rates"
TL;DR Summary
Federal Reserve Chair Jerome Powell testified before congressional lawmakers, indicating that there is no rush to cut interest rates and it's unlikely that there will be any rate hikes this year. He gave a positive assessment of the US economy's health and future, stating that economic growth is expected to continue at a solid clip. Powell also addressed concerns about commercial real estate and discussed the proposed Basel Endgame III banking regulations, indicating that the final version will likely look different and appeal to a broad consensus of stakeholders.
Topics:business#banking-regulations#federal-reserve#financeeconomy#interest-rates#jerome-powell#us-economy
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