Watch: Jerome Powell Testifies in Senate

Federal Reserve Chairman Jerome Powell testifies before the Senate Banking, Housing, and Urban Affairs Committee on Wednesday, June 25.

Powell and President Donald Trump have been at odds with each other recently, with Trump calling for cuts to interest rates while Powell refuses over claims tariffs will increase inflation.

Breitbart News’s John Carney notes the Fed has become “data defiant” in it’s stubbornness not to cut rates.