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Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, will be testifying before the Joint Economic Committee of Congress on Wednesday at 16:00 GMT.

According to the prepared remarks that were published earlier in the day, Powell  will reiterate that the baseline outlook for the US economy remains favourable and say that the  monetary policy is likely to remain appropriate  as long as incoming data broadly remains consistent with the Fed’s economic outlook.

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