Federal Reserve Chairman Jerome Powell testified on Capitol Hill Tuesday for the first of two hearings this week. Powell told the panel that the Federal Reserve is in no hurry to adjust its monetary policy as it continues towards its goal of 2% annual price growth.

Powell was also asked about the high cost of home ownership and President Trump's trade policies, but as usual, the Fed chair tried to steer clear of politics.

Federal Reserve Chair Jerome Powell is on Capitol Hill this week for his twice-yearly testimony before Congress. Powell appeared before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday.