In testimony before a congressional panel, Powell expressed optimism about the U.S. economy and said he expects it will grow at a solid pace, though it still faces risks from slower growth overseas and trade tensions.
The package of rules will ease restrictions imposed on banks following the 2008 financial crisis, giving a victory to the banking industry and President Donald Trump, a vocal critic of the more stringent rules.
In his brief remarks, Jerome Powell gave no hint on whether the Fed will cut interest rates for a third time this year when it meets later this month. Watch a Federal Reserve panel discussion live in our player.
The Federal Reserve has cut interest rates for the second time in three months in a bid to keep the U.S. economy growing. What indicators are driving the recent rate reductions, and what is the larger influence of economists on…