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On Wednesday, February 12, 2025, at 10:00 a.m. (ET) full Committee Chairman Hill and Ranking Member Waters will host a hearing entitled, “The Federal Reserve’s Semi-Annual Monetary Policy Report."
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Witness for this one-panel hearing will be:
• The Honorable Jerome H. Powell, Chair, Board of Governors of the Federal Reserve System
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The Federal Reserve Act, as amended by the Full Employment and Balanced Growth Act
of 1978 (Humphrey-Hawkins Act), requires the Board of Governors of the Federal
Reserve (Federal Reserve) to present semi-annual reports and testimony to Congress. Each
report, named the Monetary Policy Report (MPR), contains discussions of the conduct of
monetary policy and economic developments and prospects for the future. The MPR
includes:
• Statement on longer-fund goals and monetary policy strategy;
• Recent economic and financial developments (domestic, financial, international);
• Monetary policy discussion;
• Summary of Federal Open Market Committee (FOMC) member economic projections; and
• Special topics.
Subsequent amendments to the Federal Reserve Act mandated semiannual testimony in
connection with the submission of these reports.
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Hearing page: https://democrats-financialservices.house.gov/events/eventsingle.aspx?EventID=412831
