Free Trial

Treasury Sec Yellen To Testify Before Financial Services Committee June 7


Reuters reports that a spokesperson for the House Financial Services Committee has confirmed that Treasury Secretary Janet Yellen will testify before the committee on June 7.

  • The confirmation comes after Conservative Republicans yesterday openly questioned Yellen's debt limit X-date of June 1.
  • Freedom House Caucus member Rep Matt Gaetz (R-FL) called on Yellen to "show her work,” and Rep Ralph Norman (R-SC) suggested Yellen should be subpoenaed to explain to Congress how she reached her projection.
  • House Financial Services Committee Chairman Patrick McHenry (R-NC), one of GOP's lead debt limit negotiators, said yesterday: “I want to trust the Treasury’s math, but they’re going to have to show their work. And if the White House team doesn’t have a sense of urgency, if the President doesn’t have a sense of urgency here, then that raises more questions — valid questions — about how they justify the date.”
  • In contrast to some of his reps, House Speaker Kevin McCarthy (R-CA) has outwardly accepted Yellen's X-date projection.
  • Fed Chair Jerome Powell is also slated to appear in front of the Committee at the end of June.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.