Janet Yellen's first test as chair of the Federal Reserve comes on Tuesday when she faces US lawmakers, some hostile to the central bank, who will want to know how committed she is to winding down the Fed's support for the economy.
Yellen, who succeeded Ben Bernanke last week, will have a chance to set a mostly upbeat tone and point to signs of steady economic progress, despite some recent bumps in the road.
The Fed has embarked on perhaps its most difficult policy shift after five years of ultra-easy money. It has begun scaling back its bond-buying stimulus, but at a measured pace that could frustrate some Republicans who think the program is reckless.
Those concerns will be aired on Tuesday, when Yellen appears before the Republican-controlled House Financial Services Committee to testify on the Fed's semi-annual monetary policy report.
Her testimony will be released at 8.30 am (1330 GMT), although the hearing does not begin until 10 am (1500 GMT). She testifies to the Democrat-controlled Senate Banking Committee on Thursday.
via: http://www.financialexpress.com/news/as-janet-yellen-makes-debut-as-us-federal-reserve-chairman-expect-no-fireworks/1224509
