WATCH LIVE: Jerome Powell Testifies In Front Of Congress

Federal Reserve Chairman Jerome Powell will testify Wednesday in front of the House financial services committee.

In prepared remarks, Powell reiterated that the economy is improving, but it will need to improve more for interest rates to rise. He also said inflation "will likely remain elevated in coming months before moderating."

Powell is expected to begin speaking at 12 p.m. ET. The prepared remarks will be followed by a Q&A session with members of the committee. Watch the full live stream of the testimony below.