Federal Reserve Chair Jerome Powell Testifies Before Congress Tuesday

Federal Reserve Chairman Jerome Powell will testify before the House Financial Services Committee on Tuesday, February 27 at 10:00 a.m. ET to deliver the Federal Reserve’s semi-annual Monetary Policy Report to Congress and to discuss the state of the economy.

"Monetary Policy and the State of the Economy"

Hearing entitled “Monetary Policy and the State of the Economy” | House Committee on Financial Services: Tuesday, February 27, 2018 10:00 am ET in 2128 Rayburn HOB (Full Committee)--Witness List: The Honorable Jerome H. Powell, Chairman, Board of Governors of the Federal Reserve System.

Committee Memorandum (pdf) embed below:

Next week, Chairman Powell presents the Monetary Policy Report to Congress, read the report in advance: https://t.co/bYN2p3JtNZ

— Federal Reserve (@federalreserve) February 23, 2018

Report embed below:

On Thursday March 1, 2018, 10:00 a.m. ET Fed Chair Powell testifies before Senate Banking Committee--The Semiannual Monetary Policy Report to the Congress - Hearings - U.S. Senate Committee on Banking, Housing, and Urban Affairs: "March 1, 2018 10:00 AM 538 Dirksen Senate Office Building,  hearing on “The Semiannual Monetary Policy Report to the Congress.” The witness will be: The Honorable Jerome H. Powell, Chairman, Board of Governors of the Federal Reserve System."

.@FederalReserve Chairman Powell testifies before our committee tomorrow for the first time. He’ll update us on monetary policy and the state of the #economy. Tune in: https://t.co/HAoSusodnH @ 10am ET. pic.twitter.com/QUcqplMX23

— Financial Services (@FinancialCmte) February 26, 2018

“This man will be a steady hand." https://t.co/Lc19jodHr0

— TheStreet (@TheStreet) February 26, 2018

How will the Fed’s Jerome Powell characterizes the implications of current market conditionss for Fed policy, and more to watch when the new chairman faces lawmakers this week https://t.co/FR65dcwRkP

— The Wall Street Journal (@WSJ) February 26, 2018

Jerome Powell may be willing to accept inflation rising as high as 2.5% as they seek to extend the almost 9-year economic expansion https://t.co/mILxQ4zF8I pic.twitter.com/HINXKmtU2r

— Bloomberg (@business) February 26, 2018

See also:

• Fed chair Jerome Powell | Google.com

• Markets watching Fed chair Powell as he testifies in Congress | cnbc.com: "Fed chair Jerome Powell makes his first major appearance Tuesday and Thursday, when he testifies on the economy before congressional committees."

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Monetary Policy, Return to Normal? Senator Toomey vs Fed Chair (video)

Senator to Yellen: Forget stock drop, normalize (CNBC - 11 Feb 2016): Sen. Pat Toomey [(R) Pennsylvania] said the Federal Reserve should continue moving monetary policy back to normal, despite the swings in the financial markets. "I'm going to try to be a voice for encouraging a normalization," Toomey told CNBC's "Squawk Box." The Pennsylvania Republican is member of Senate Banking Committee, where Fed Chair Janet Yellen appeared before the Committee in the second part of her semiannual testimony on the economy.

In testimony before the House Committee on Financial Services, Yellen kept her options open to further hike interest rates while acknowledging the financial market turmoil and concerns about China. "We shouldn't be shocked that some asset prices have a little bit of a rough ride along the way," Toomey said.

"We've got a Fed that's just been winging it by the seat of their pants … in one direction right, this unbelievable accommodative policy, this unprecedented policy, which I think is very dangerous," Toomey said. He contended that the Fed's stated goal was to boost asset prices with easy money, so it stands to reason that tighter policy could reverse things a bit.

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