(adds details, context)
By Howard Schneider
WASHINGTON, July 8 Federal Reserve Chair Janet
Yellen will go before Congress next week to deliver the U.S.
central bank's latest report on monetary policy, congressional
officials said on Tuesday.
Yellen will appear before the Senate Banking Committee at 10
a.m. EDT (1400 GMT) on July 15, the Senate committee said. She
is scheduled to appear before the House Financial Services
Committee at 10 a.m. (1400 GMT) the following day, a spokesman
for the House committee confirmed.
The Fed chief by law testifies twice a year to the two
congressional panels. Her first visit as Fed chair came in
February, and turned into a marathon, six-hour affair as
lawmakers quizzed the new central bank chief on her plans.
Her appearance next week comes as the Fed is far along in
shutting down some of the main stimulus policies it used to
combat the recession, and is planning its return to a more
normal monetary policy.
That includes an ongoing debate over when to increase
interest rates and how to manage the possible reduction in the
$4 trillion in assets the central bank accumulated through
various bond-buying programs.
It also will come less than a week after the House committee
is scheduled to consider legislation to tighten congressional
oversight of the central bank and monetary policy.
(Reporting by Howard Schneider; Editing by Paul Simao)