Jerome Powell, the Federal Reserve Chair, will give a live testimony before the House financial services committee.

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On Wednesday, Jerome Powell, the Federal Reserve Chair, will appear before the U.S. House Financial Services Committee to testify.

Powell acknowledged that the central bank sees the economy as having the two-sided risk of rising unemployment at the same time as inflation is still above its 2% target, after appearing before the Senate Committee on Banking, Housing and Urban Affairs on Tuesday.

Powell stated on Tuesday that if policy restraint is reduced too late or too little, it could negatively impact economic activity and employment, as keeping interest rates high can harm the economy.

The Fed's meeting is later this month, but traders doubt a rate cut in July.

Regional lenders could face potential risks from commercial real estate, and representatives may inquire about the Fed's oversight of banks in this regard.