Federal Reserve Chairman Powell may be absent from congressional hearings due to criminal charges

The US Department of Justice has issued a subpoena to Federal Reserve Chairman Powell and threatened to bring criminal charges against him, which could result in his possible absence from the congressional hearing scheduled for February. According to the relevant laws revised in 1978, the Chairman of the Federal Reserve is required to testify twice a year at congressional hearings on monetary policy and economic conditions. Republican Congressman Frenchie Hill, Chairman of the House Financial Services Committee, stated that Powell is not expected to attend the hearings of the Senate Banking Committee and the House Financial Services Committee due to being charged with perjury by the grand jury.