Housing Reports, a Possible Tax Vote and a Fed Chair Hearing
- 7 years ago
Housing Reports, a Possible Tax Vote and a Fed Chair Hearing
Janet L. Yellen, the current Fed chairwoman, will testify on Wednesday before the Joint Economic Committee in what could be her final
appearance before Congress as the head of the central bank, a post she is expected to pass to Mr. Powell in early February.
The back-to-back hearings should provide an opportunity to compare the views of Mr. Powell
and Ms. Yellen on the issues confronting the Fed, including how fast to raise interest rates, how best to prepare for future economic downturns and how far to roll back postcrisis financial regulations.
In June, the central bank said that Britain’s financial system remained stable over all, but warned
that “there are pockets of risk that warrant vigilance,” including rising consumer debt and easier lending conditions in the mortgage market.
The Bank of England is expected to provide its semiannual outlook on the financial stability of the British financial system on Tuesday,
as well as the results of its latest stress test to measure the ability of Britain’s largest lenders to weather another financial shock.
The Bank of England raised its main interest rate this month for the first time in a
decade as it tried to strike a balance between moderate growth and rising prices.
Janet L. Yellen, the current Fed chairwoman, will testify on Wednesday before the Joint Economic Committee in what could be her final
appearance before Congress as the head of the central bank, a post she is expected to pass to Mr. Powell in early February.
The back-to-back hearings should provide an opportunity to compare the views of Mr. Powell
and Ms. Yellen on the issues confronting the Fed, including how fast to raise interest rates, how best to prepare for future economic downturns and how far to roll back postcrisis financial regulations.
In June, the central bank said that Britain’s financial system remained stable over all, but warned
that “there are pockets of risk that warrant vigilance,” including rising consumer debt and easier lending conditions in the mortgage market.
The Bank of England is expected to provide its semiannual outlook on the financial stability of the British financial system on Tuesday,
as well as the results of its latest stress test to measure the ability of Britain’s largest lenders to weather another financial shock.
The Bank of England raised its main interest rate this month for the first time in a
decade as it tried to strike a balance between moderate growth and rising prices.