Federal Reserve Chair Jerome Powell, who is testifying before Congress this week, said tariffs are "likely to push up prices."

Chair Jerome Powell is facing two days of what could be tough grilling on Capitol Hill, as President Trump has repeatedly urged the Fed to reduce borrowing costs.

Federal Reserve Chair Jerome Powell will tell lawmakers Tuesday that the central bank is in no rush to lower interest rates, underscoring a cautious stance as officials await more clarity on the economic impact of President Donald Trump’s latest round of tariffs.