US stocks traded mixed on Tuesday as investors awaited an appearance by Federal Reserve Chairman Jerome Powell on Capitol Hill.
He will testify before the Senate Banking Committee at 10 a.m. ET to deliver the central bank's semiannual monetary policy report to Congress. On Wednesday, he will testify before House Financial Services Committee. The testimony comes amid signs of sticky inflation and indications that the Fed will remain aggressive on rates to rein in inflation. Over the weekend, dovish policymaker San Francisco Fed President Mary Daly said central bankers need raise interest rates higher and keep them there longer.
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