Jerome Powell disregards potential depression; reiterates commitment to US economy

Will address Senate Committee on Banking, Housing and Urban Affairs

James Baxter-Derrington
clock • 2 min read

Federal Reserve chairman Jerome Powell is set to reiterate the US central bank’s commitment to use its "full range of tools" to support the economy and has denied the threat of a depression.

In prepared remarks Powell will deliver to the Senate Committee on Banking, Housing and Urban Affairs, he points to the body's "mandate to promote maximum employment and stable prices for the American people, along with our responsibilities to promote stability of the financial system", while acknowledging that the actions taken are "only part of a broader public-sector response". Bond markets' 'addiction' to low rates will 'not be left unsatisfied' for a year or more His remarks also reassure that he will keep interest rates near zero until the economy has weathered the crisis and th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

UK fastest growing G7 economy in Q1 2025

UK fastest growing G7 economy in Q1 2025

US records fall in GDP

Patrick Brusnahan
clock 30 June 2025 • 1 min read
Friday Briefing: The markets might not be spooked but they are very worried

Friday Briefing: The markets might not be spooked but they are very worried

Friday Briefing

Eve Maddock-Jones
clock 30 June 2025 • 5 min read
Market Movers blog: US futures up after record-breaking Friday

Market Movers blog: US futures up after record-breaking Friday

Latest news and analysis

Investment Week
clock 26 June 2025 • 1 min read
Trustpilot