Congress Working to Schedule Powell Testimony, Spokesperson Says

A congressional committee is liasing with Federal Reserve Chair Jerome Powell to schedule his next appearance before lawmakers, though the process has been disrupted by subpoenas recently served to the central bank, according to a spokesperson for a key Republican lawmaker.

Powell on Sunday said the US central bank had been served grand jury subpoenas from the Justice Department threatening a criminal indictment, an action that is related to his June congressional testimony on ongoing renovations of the Fed’s headquarters.

Under a 1978 amendment to law that created the central bank, Fed chairs are required to testify in congressional hearings ...