US Republicans: Federal Reserve Chairman Powell may miss his biannual congressional hearings.

According to a prominent Republican lawmaker, Powell may miss his scheduled next congressional hearing because the Justice Department has subpoenaed the Federal Reserve, threatening criminal charges against Fed Chairman Jerome Powell. Under the 1978 amendments to the law establishing the Federal Reserve, the Fed chairman is required to testify twice a year before Congress, offering his views on monetary policy and the economic situation. By convention, the Fed chairman typically testifies separately before the Senate Banking Committee and the House Financial Services Committee. Representative French Hill, chairman of the House Financial Services Committee, stated, "I expect Chairman Powell will not appear at the House and Senate hearings in February because of the grand jury indictment of him for perjury." (Jin Shi)