Powell Capitol Hill Testimony

• Removal of Fed governors ‘not allowed’ under law, Powell says
• Powell says reducing the policy restraint too fast could hinder inflation progress
• Powell says it is not the Federal Reserve’s job to comment on tariff policy
• Powell acknowledges worries around ‘debanking’
• Housing shortage to persist even with lower mortgage rates, Powell says
• Powell says Fed playbook ‘revised’ in ‘a lot of ways’ following SVB crisis
• Fed still ‘committed’ to introducing Basel III capital rules in US, Powell says
• Powell said that the Fed is still “committed” to introducing the Basel III global capital rules in the US.
• Inflation remains ‘somewhat elevated’