Federal Reserve Chairman Jerome Powell resumed Thursday his two-day bi-annual monetary policy brief before the Senate Banking Committee.
On the first day of hearings before the House Financial Services Committee, the Fed chief indicated that business investment had slowed "in particular," adding that the outlook had not improved. in the last few weeks. Mr Powell added that the central bank "would do the right thing" to support its expansion, with "cross currents" weighing on the economic outlook.
Major US stock indexes hit record highs after Powell's statement fueled hopes for interest rate cuts later this month. The S & P 500 also exceeded 3,000 for the first time on Wednesday. Shares rose again on Thursday after Powell's testimony with the Dow Jones Industrial Average, surpassing 27,000 euros for the very first time.
Lawmakers were particularly interested in the Fed's position on the global cryptocurrency of Libya, Facebook, raising many questions as Powell signaled "serious concerns".
Powell also said on Wednesday that he would not resign if President Donald Trump asked him to do so and that he was planning to fulfill his four-year term.
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