Congressional Task Force to Hold First Public Hearing on Monetary Policy
A newly formed congressional task force focused on the Federal Reserve will hold its inaugural public hearing early next month.
The Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity will convene its first hearing on March 4 at 10:00 a.m. ET, titled "Examining Monetary Policy and Economic Opportunity."
The hearing coincides with the Fed's ongoing review of its operating framework, which guides its policy decisions to achieve its dual mandate of price stability and maximum employment.
Chairman of the House Financial Services Committee, French Hill, has criticized the Fed's response to rising inflation. He believes the central bank maintained low interest rates for an extended period despite evidence of inflation strengthening.
"In hindsight, the adoption of the so-called flexible average inflation targeting appears ill-timed and ill-fitted for a post-pandemic world," Hill said in a previous hearing.
Further details regarding witnesses and the hearing's agenda are expected to be released in the coming days.