US Republicans: Powell may miss the twice-yearly congressional hearings.

PANews reported on January 14th that, according to foreign media citing a prominent Republican lawmaker, Powell may miss his scheduled next congressional hearing because the U.S. Department of Justice 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. Traditionally, the Fed chairman usually appears before both 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 before the House and Senate hearings in February because the grand jury has accused him of perjury."