Federal Reserve Chairman Powell will deliver his testimony on the semi annual monetary policy report to the House Financial Services Committee at 22:00 tonight, opening his "verbal battle" on Capitol Hill. Explaining the decision to keep interest rates unchanged, the Federal Reserve held its benchmark interest rate at 4.25% -4.5% for the fourth consecutive meeting last week. Trump has repeatedly called for interest rate cuts and criticized Powell, who emphasized the need for more economic data to consider changes and that the economy remains robust. Council members Waller and Bauman may support a rate cut in July, Republican lawmakers are also pressuring Powell, and Democrats are warning of a threat to independence. The market is expected to fluctuate with Powell's remarks.