Jan 31 Incoming Federal Reserve Chair Janet
Yellen will testify before U.S. lawmakers on Feb. 11 and again
on Feb. 13 in what will probably be her first public comments on
monetary policy and the economy after taking the reins at the
U.S. central bank.
Yellen, who succeeds Ben Bernanke on Saturday to become the
first woman to head the Fed, will break a nearly
three-month-long silence with the two days of testimony on the
Fed's semi-annual monetary policy report.
Yellen is to appear before the House Financial Services
Committee at 10 a.m. (1500 GMT) on Feb. 11, according to a
statement on Friday by the committee's chairman. She faces the
Senate Banking Committee at 10:30 a.m. on Feb. 13, a committee
Yellen, the Fed's current vice chair, last spoke publicly at
her Senate confirmation hearing on Nov. 14, before the Fed took
its first step to wind down its massive bond-buying program.
Since then she has had little exposure besides an interview
published in Time Magazine this month in which she suggested she
expects the U.S. economy to grow at a pace of at least 3
A strong supporter of the Fed's very easy policies, Yellen
will be tasked with continuing to ramp down a huge bond-buying
program and, later, raising interest rates and shrinking the
Fed's swollen balance sheet.
Jeb Hensarling, Republican chairman of the House committee,
has been holding hearings on the Fed's bond-buying program,
which has caused the central bank's balance sheet to balloon to
around $4 trillion.