Powell is about to engage in a verbal battle on Capitol Hill, possibly facing a pincer attack from both parties

According to BlockBeats, on June 24th, Federal Reserve Chairman Powell will travel to Capitol Hill this week and will face increasing pressure from both inside and outside the Fed to cut interest rates. This hearing may rewrite the Fed's tradition of staying away from politics for nearly a decade. On Tuesday at 22:00, Powell will submit his semi annual monetary policy report to the House Financial Services Committee and move on to the Senate Banking Committee on Wednesday. Although such congressional inquiries usually focus on the economic situation and policy direction, the background of this time is completely different: not only Trump and his administration officials continue to exert pressure, but key cracks have also emerged within the Federal Reserve. Federal Reserve Board members Bauman and Waller have recently expressed their support for a rate cut as early as July. Both are officials appointed during Trump's first term and have been mentioned as potential candidates to replace Powell next year. Powell's hearing may face a pincer attack from both parties: Republicans follow Trump's call for immediate easing of monetary policy, while Democratic Senator Elizabeth Warren also calls for a rate cut. (Golden Ten)