Small font size A Larger text size A Largest text size A

House committee chair wants testimony from Fed's Powell soon

BY Reuters | ECONOMIC | 03/06/26 08:03 AM EST

March 6 (Reuters) - The head of the House Financial Services Committee on Friday told Bloomberg TV that he hoped that the first of the twice-yearly updates to Congress from the chair of the Federal Reserve will occur soon.

That testimony, due to be delivered by outgoing Chair Jerome Powell, has yet to be scheduled amid a Department of Justice probe into remarks Powell made during the Senate leg of last summer's congressional testimony. The chair's first testimony traditionally takes place between the Fed's first and second meetings of the year.

(Reporting by Howard SchneiderEditing by Tomasz Janowski)

More Fixed Income News

Former US Treasury Secretary Yellen says one Fed rate cut possible this year BY Reuters |ECONOMIC 11:03 PM EDT
US prosecutors make surprise visit to Federal Reserve office BY Reuters |ECONOMIC 10:03 PM EDT
Former US Treasury Secretary Yellen says one Fed rate cut possible this year BY Reuters |ECONOMIC 09:42 PM EDT
T1 Energy Announces Pricing of Upsized Public Offering of Convertible Senior Notes Due 2031 BY GlobeNewswire |CORPORATE 09:35 PM EDT

All Fixed Income News

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article