Republican figures in the United States: Federal Reserve Chairman Powell may miss the biannual congressional hearings

According to a senior Republican lawmaker, Federal Reserve Chairman Jerome Powell may miss the upcoming scheduled congressional hearing due to the U.S. Department of Justice serving a subpoena to the Federal Reserve, threatening to bring criminal charges against him. Under the 1978 amendments to the law establishing the Federal Reserve, the Fed Chair is required to testify twice a year before Congress on monetary policy and economic conditions. By convention, the Fed Chair typically appears before hearings held by the Senate Banking Committee and the House Financial Services Committee. House Financial Services Committee Chairman, Republican Representative French Hill, stated, "I expect Chairman Powell will not appear before the House and Senate hearings in February because the grand jury has charged him with perjury." (Jin10)