This past week saw the Fedspeak dominated by Chair Powell’s testimony and q&a from the Humphrey-Hawkins Hearings. Twice a year, senators and house members get the opportunity to question the Fed Chair on the conduct of monetary policy in light of the dual mandate. The bulk of questioning focused on the stability of the financial system and the adequacy of capital requirements, though Chair Powell did reiterate his commitment to both sides of the dual mandate. This past week also saw a Senate hearing for the confirmation of Adrianna Kugler to fill the final vacant seat remaining on the committee.

Outside of hearings, we saw commentary from Jefferson, Powell, Kugler, Cook, Goolsbee, Bostic, Waller, Bowman, and Barkin. Overall, the comments largely solidified the commitment to an additional hike later this year. Even Goolsbee, who has made a name for himself as a dove in his short tenure on the committee, emphasizing that there may be room for further hikes this year.

Summary Table

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