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Watch Live: Powell Tells Congress There Will Be No More Rate Cuts

Courtesy of ZeroHedge View original post here.

Judging by his prepared remarks, which we posted here, along with a preview of what to expect from Wednesday's testimony, Fed Chairman Jerome Powell is gearing up to tell the market something it doesn't want to hear: That the central bank is done cutting interest rates, and that Powell expects the economy to continue to strengthen regardless.

That's a bold statement, coming one day after President Trump praised European-style negative interest rates to tepid applause during a speech before the Economic Club of New York, and pushed the central bank to keep on cutting.

Expect some angry Trump tweets after – or perhaps even during – Powell's testimony before the Joint Economic Committee is set to begin at 11 am ET.

Watch live below:


 

 

 


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