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1000ET/1500BST: Yellen And Raimondo Testifying Before House Committees

US

Two potentially important Congressional hearings are taking place today at 10:00 ET 15:00 BST.

  • Commerce Secretary Gina Raimondo is testifying before the House Appropriations Committee on Fiscal Year 2023 Budget Request for the Department of Commerce.
  • Treasury Secretary Janet Yellen will testify to the House Financial Services Committee on the Annual Report of the Financial Stability Oversight Council.
  • From the committee memorandum: 'Congress mandates the FSOC submit an annual report to Congress on various issues, including: its activities; significant financial market and regulatory developments; and potential emerging threats to the financial stability of the United States.'
  • Yellen may expand on comments yesterday about Crypto regulation following the crash of stablecoin Terra. Yellen said Terra’s crash 'illustrates that rapidly growing product creates risks to financial stability and we need a framework that’s appropriate.'

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