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Treasury Secretary Janet Yellen and Federal Reserve Chairman Jerome Powell head back to Capitol Hill on Wednesday for their second day of testimony on the CARES Act.
The duo appears before the House Financial Services Committee to discuss the pandemic’s impact on the economy as well as their respective institutions’ response relative to the coronavirus relief legislation.
In Tuesday testimony before the Senate banking panel, Powell roiled markets when he said “transitory” is no longer an appropriate way to describe inflation, and indicated the Fed would discuss in December accelerating the taper of its monthly bond purchases.