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Jun 25, 2025  |  
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David Zimmermann


NextImg:WATCH LIVE: Jerome Powell testifies to Senate after dismissing July rate cut

Federal Reserve Chairman Jerome Powell will testify before the Senate Banking Committee at 10 a.m. Wednesday for his second consecutive day of congressional testimony.

During his appearance before the House Financial Service Committee on Tuesday, Powell said the central bank may not cut its interest rate target in July. His position puts him at odds with President Donald Trump, whose tariffs Powell believes will raise inflation.

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Powell will likely repeat the same message at Wednesday’s Senate hearing.