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Fed's Powell sees "conflicting signals" in economy

Federal Reserve Board Chairman Jerome Powell peers over his glasses during a news conference
Fed chairman Jerome Powell. Photo: Alex Wong/Getty Images

Federal Reserve chairman Jerome Powell will tell the Senate Banking Committee Tuesday that the global economy currently looks strong, but the volatile stock market and uncertainties surrounding Brexit and international trade are presenting "conflicting signals" about what's ahead, according to his prepared remarks.

Between the lines: Powell's Fed has backed off its more aggressive rate hike stance in recent months, instead emphasizing the central bank's "patience." Expect Powell to face questions from members of Congress about this reversal during today's hearing.

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