Powell Faces Senate Grilling on Economic Outlook

Jerome Powell, Chair of the Federal Reserve, testified before the Senate Banking, Housing, and Urban Affairs Committee on September 29, 2026. The hearing focused on the Semiannual Monetary Policy Report to Congress.

Powell's testimony came as the US central bank continues to navigate a complex economic landscape. The Fed has been raising interest rates in an effort to combat inflation, but this move has also led to concerns about a potential recession.

During the hearing, Powell acknowledged these challenges and emphasized the Fed's commitment to maintaining price stability while promoting maximum employment.