In anticipation of Federal Reserve Chair Jerome Powell’s crucial speech, the S&P 500 surged to a new high on Tuesday.
In light of his semiannual update on monetary policy, Powell will speak before Congress this week.
Prior to his hearing before the House Financial Services Committee on Wednesday, Powell will address the Senate Banking Committee on Tuesday.
He made these comments ahead of the release of important inflation statistics later this week, which includes the producer price index on Friday and the June consumer price index on Thursday.
Source (CNBC)
