WATCH LIVE: Fed Chairman Jerome Powell addresses Senate amid inflation and recession concerns
Samuel Schaffer
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The Senate Committee on Banking, Housing, and Urban Affairs is set to receive the Semiannual Monetary Policy Report to Congress from Federal Reserve Chairman Jerome Powell.
The Monetary Policy Report to Congress is a briefing by the chairperson of the Federal Reserve Board of Governors on recent economic and financial developments and monetary policy.
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Reports such as this are required by the Federal Reserve Act. It requires the Federal Reserve Board to submit written reports on “the conduct of monetary policy and economic developments and prospects for the future” to Congress, according to the Fed’s website.
Powell is expected to face questioning from senators on efforts to bring down inflation while not hurting the economy and the possibility of a recession.
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He will return to Capitol Hill on Wednesday to testify before the House Financial Services Committee.