Federal Reserve Chairman Bernanke to Testify at Joint Economic Committee on the U.S. Economic Outlook

Press Release

Media Advisory Contact: Israel Klein
March 27, 2007 202-224-0368

FEDERAL RESERVE CHAIRMAN BERNANKE
TO TESTIFY AT JOINT ECONOMIC
COMMITTEE ON THE U.S. ECONOMIC
OUTLOOK
Schumer to Seek Insight from Fed Chair on Economic Risks of the Subprime
Loan Defaults, Evolving Stance on Inflation and Economic Growth
Washington, D.C. - U.S. Senator Charles E. Schumer, Chairman of the Joint Economic
Committee, will hold a hearing on the United States' Economic Outlook with Chairman of
the Board of Governors of the Federal Reserve System, Ben Bernanke on Wednesday,
March 28, 2007 at 10:30 am in 216 Hart Senate Office Building. Due to a conflict with
a Senate Finance Committee hearing on China currency, Fed Chairman Bernanke agreed to
adjust the start time of the JEC hearing. This will be the first Congressional appearance for
Chairman Bernanke after the March 21 FOMC statement, which showed greater
uncertainty about the future direction of the economy and Fed policy than previous
statements but without specifically mentioning the subprime mortgage market. As the
subprime loan market continues its downward spiral, trade deficits continue to be large and
unsustainable and other economic news breaks, Sen. Schumer and the JEC members will
ask Chairman Bernanke for his views and guidance on the economic outlook.
WHAT: Joint Economic Committee Hearing on "The Economic Outlook"
WHO: The Honorable Ben Bernanke
Chairman, Board of Governors of the Federal Reserve System
WHEN: 10:30 a.m., Wednesday, March 28, 2007
WHERE: 216 Hart Senate Office Building
(PLEASE NOTE ONE HOUR LATER START TIME TO HEARING)
THE HEARING WILL BE WEBCAST AT WWW.JEC.SENATE.GOV
The Joint Economic Committee, established under the Employment Act of 1946, was
created by Congress to review economic conditions and to analyze the effectiveness of
economic policy.
www.jec.senate.gov
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