WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell’s testimony to Congress (all times local): ___ 12:15 p.m. Federal Reserve Chairman Jerome Powell wraps up more than two hours of Senate testimony by giving a broader definition of what the Fed means when it says it will be “patient” in deciding when to change interest rates this year. “When I say that we are going to be patient what that really means is that we are in no rush to make a judgment about changes in policy,” Powell tells the Senate Banking Committee. “We are going to be patient. We are going to allow the situation to evolve … and allow the data to come in. And I think we are in a very good place to do that.” Powell covered a range of topics in his appearance Tuesday before the Senate Banking Committee. He will testify before the House Financial Services Committee on Wednesday. ___ 11:50 a.m. Federal Reserve Chairman Jerome Powell welcomes a solid increase in the past year in the proportion of Americans working or looking for work, but notes that the so-called labor force participation rate remains lower in the United States than most… Read full this story
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