Fed Chair Powell to testify at Senate June 22, Barr vote set for June 8

2022.06.03 23:36

FILE PHOTO: Federal Reserve Chair Jerome Powell looks on as he testifies before a U.S. House Financial Services Committee hearing on Capitol Hill in Washington, U.S., March 2, 2022. REUTERS/Tom Brenner

(Reuters) – Federal Reserve Chair Jerome Powell will give his twice-yearly report on monetary policy to the U.S. Senate on June 22, just a week after the central bank is expected to deliver another half-point interest rate hike as it seeks to bring inflation under control.

The Senate Banking Committee also said it would hold a vote for President Joe Biden’s pick for Fed vice chair of supervision, Michael Barr, for June 8 at 2:30 pm ET, a necessary step before a full Senate vote on Barr’s confirmation.

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