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Cares Act: Jerome Powell Will Testify Before House Committee Next Week

Fed Crisis

EDITOR NOTE: As a savvy investor, your portfolio is probably diversified into equities, bonds, and precious metals. When it comes to equities, you likely pay attention not only to revenue and earnings but also “guidance.” On a personal level, “guidance” means paying attention to major economic events and announcements, such as the upcoming Fed testimony before the US House of Representatives next week. What’s spoken next week can have a significant impact on the way you go about your daily life, the way you invest, and what to expect moving forward.

WASHINGTON (Reuters) - U.S. Federal Reserve chair Jerome Powell will testify before the U.S. House of Representatives Financial Services Committee on Tuesday at 12:30 p.m. EDT (1630 GMT), the Fed announced on Thursday.

The Fed chair will provide testimony on the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, under which the Fed set up several new lending facilities to bolster the economy during the coronavirus pandemic. The law requires periodic congresional hearings to review the programs.

Originally posted on Reuters

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