Yellen to face Congress amid uncertainty on Fed rate policy
Federal Reserve Chair Janet Yellen has a busy two days on Capitol Hill where lawmakers will be looking for hints about future rate hikes amid increasing economic jitters.
Since the Fed raised rates from record lows in December, the economic landscape has become clouded by falling stock markets, global weakness and sharply lower energy prices. Against that backdrop, lawmakers will likely want to question Yellen about the probable pace of further rate hikes and the Fed's role in supporting the U.S. economy.
After testifying to the House Financial Services Committee today, Yellen will address the Senate Banking Committee tomorrow.
Last week's jobs report for January further complicated the likelihood and timetable of additional rate increases. It showed more pay for workers and rising confidence among job seekers, even though the pace of hiring slowed.
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