Fed chair Powell testimony on Capitol Hill – 21/06 and 22/06 – having absorbed the details of the last Fed meeting US lawmakers are likely to have questions about how the Fed believes that it still needs to hike rates by another 50bps to tackle an inflation problem that appears to be subsiding.
Powell is likely to also face further questions from his nemesis Democrat Senator Elizabeth Warren who is likely to further press the Federal Reserve Chairman on the costs that further rate hikes might have in terms of higher unemployment. Her dislike for Powell is well documented calling him a "dangerous man", however despite these comments her fears of higher unemployment haven't materialised despite 500bps of rate hikes in the past 15 months.
We could also get further insights into last week's discussions with a raft of Fed speakers from the likes of Christopher Waller, Michelle Bowman, James Bullard and Loretta Mester.
