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News Now

Washington
Monetary policy hearings coming next week
WASHINGTON (7/10/14)--Federal Reserve Board Chair Janet Yellen is scheduled to deliver the Fed's semiannual monetary policy report to the Senate Banking Committee on Tuesday and then to the House Financial Services Committee Wednesday.
 
The hearings are scheduled to begin at 10 a.m. (ET) and, at each, the Fed chair will present her report and then answer lawmakers' questions.
 
Yellen made her first semiannual report to Congress as Fed chair in February, at which time she said substantial progress had been made in restoring the economy to health and in strengthening the financial system, but there was still more to do.

"Too many Americans remain unemployed, inflation remains below our longer-run objective, and the work of making the financial system more robust has not yet been completed," she said, just weeks after taking the helm.
 
The public airing of the chairman's assessment of monetary policy is required under the Humphrey-Hawkins Act.


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