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News Now

Washington
Fed Chair Yellen set for first report to Congress
WASHINGTON (2/11/14)--This week, new Federal Reserve Chair Janet Yellen will report on monetary policy and the state of the U.S. economy for the first time since taking on board leadership early this month.

Yellen will appear before members of the U.S. Congress at two hearings: Today's House Financial Services Committee hearing titled "Monetary Policy and the State of the Economy," and a Thursday Senate Banking Committee hearing titled "Semiannual Monetary Policy Report to the Congress."

The House hearing will feature a second panel of academics. Yellen will be the sole speaker at the Senate hearing. Both monetary policy hearings are part of a series of regular semi-annual accountings to Congress.

Other hearings on this week's schedule include a Wednesday Senate Small Business and Entrepreneurship Committee hearing on Maria Contreras-Sweet's nomination to serve as administrator of the U.S. Small Business Administration.

The House this week will also consider debt ceiling legislation and the Consumer Financial Protection and Soundness Improvement Act (H.R. 3193). CUNA supports H.R. 3193 (See News Now story: CFPB restructure bill 'a step in right direction,' CUNA says).

No House votes will be held Thursday or Friday to accommodate the House Democratic Caucus retreat.


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