Markets looking ahead to Wednesday US time and Fed Chair Powell speaking

Powell will be delivering remarks to the US Congress next Wednesday: Fed Chair Powell's semi-annual testimony on monetary policy before the US Senate Banking Committee

Eamonn Sheridan

Coming up on 22 June 2022:

Federal Reserve Chair Jerome Powell heads to the US Congress for his semi-annual congressional testimony

to testify before the Senate Banking Committee on Wednesday
(then the House Financial Services Committee on Thursday)

Both the Fed and Congress want to lower inflation (as does Biden). Nevertheless, he'll get a grilling from the Senators. Powell won't be backing down on his commitment to hiking rates in the months ahead.

I'm awaiting the publication of Powell's prepared testimony. Its in the Q&A to follow that spontaneous comments will occur.

Powell is up at 1330 GMT.