U.S. Federal Reserve Chair Jerome Powell told lawmakers on Tuesday the argument for free trade still makes sense but added that it was not the role of the central bank to comment on tariff or trade policy but to react to how it impacts the economy.

Federal Reserve Chairman Jerome Powell will answer questions from members of the Senate Banking Committee starting at 10 a.m. Eastern. Economists hope the lawmakers will press Powell on what he means when he said there is "no hurry" to cut the benchmark interest rate any further.

Good morning. Jerome Powell says the Fed can be patient before lowering rates again. Meta extends its rally to 17 days. And a bourbon barrel worth at least $212,500 is up for auction. Listen to the day’s top stories.