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Powell warned the labor market continues to show some initial signs of weakness. Powell also cracked open the door to additional rate cuts this year.

House GOP sidesteps Trump’s call for a Powell beatdown

Federal Reserve Chair Jay Powell testified before the House Financial Services Committee this morning. It was a mild affair, despite an appeal from the White House to rake over the central banker.

President Donald Trump posted very early Tuesday morning that he hoped “Congress really works this very dumb, hardheaded person, over” during Powell’s appearance today.

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