Jerome Powell returns to Capitol Hill where Republicans plan to challenge the Fed's $2.5 billion headquarters renovation featuring marble and rooftop gardens amid inflation concerns.

For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” Powell told the House Financial Services Committee.

The Fed chair told lawmakers that the central bank could afford to be patient amid uncertainty about how President Trump’s policies would affect the economy, even as divisions between officials emerged.