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Ahead Fed Chair Powell's testimony before the...>

FED
FED: Ahead Fed Chair Powell's testimony before the House Financial Services
Committee Tuesday at 1000ET (statement released at 0830ET), economists from
Nomura "expect Powell to signal policy continuity in the near term and
acknowledge the near-term growth effects of fiscal policy and the longer-term
deficit and debt implications." Being his first testimony before the House
Financial Services and Senate Banking Committees on Tuesday and Thursday
respectively, the Fed chairman "may frame his arguments in a new way, which may
generate surprises," Nomura cautioned. "That said, we do not expect him to
intentionally signal a change in policy direction, including an acceleration in
the pace of rate hikes, during his testimony."

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