Bernanke Likely to Appear on Capitol Hill Next Month
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WASHINGTON — Federal Reserve Chairman-nominee Ben S. Bernanke looks set to head to Capitol Hill in mid-February to deliver the central bank’s semiannual monetary policy report, an opportunity to offer guidance on where U.S. interest rates are heading.
The House Financial Services Committee announced Tuesday that it would hold a hearing on the report, formerly known as the Humphrey-Hawkins testimony, on the morning of Feb. 15.
A spokesman for the Senate Banking Committee said the panel would probably hold its hearing the following day.
Bernanke, a former Fed governor who is chairman of the White House Council of Economic Advisors, needs only a final vote by the U.S. Senate to take the helm at the Fed after Alan Greenspan departs Jan. 31.
The Senate is expected to vote on Bernanke’s nomination the day Greenspan steps down. Bernanke is widely expected to win confirmation.
The twice-a-year hearings are keenly watched by financial markets for clues on the direction of interest rates.
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