US Republican: Powell May Miss the Semiannual Congressional Hearing
PANews, January 14 – According to foreign media citing a key Republican lawmaker, the U.S. Department of Justice has served a subpoena to the Federal Reserve, threatening to file criminal charges against Federal Reserve Chairman Jerome Powell. Powell may be absent from the next scheduled congressional hearing. According to amendments made in 1978 to the laws establishing the Federal Reserve, the Fed Chair is required to testify twice a year before Congress, expressing views on monetary policy and the economic situation. By convention, the Fed Chair usually attends hearings before both the Senate Banking Committee and the House Financial Services Committee. House Financial Services Committee Chairman, Republican Congressman French Hill, stated, “I expect Chairman Powell will not attend the House and Senate hearings in February because a grand jury has indicted him for perjury.”
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