Fed Chairman Powell's testimony to Congress postponed

[December 04, 2018]    By Pete Schroeder

WASHINGTON (Reuters) - Federal Reserve Chairman Jerome Powell's testimony to Congress' Joint Economic Committee on Wednesday has been postponed and will be rescheduled at a later date, the committee said on Monday.

Federal Reserve Chairman Jerome Powell speaks at the Economic Club of New York's luncheon in the Manhattan borough of New York City, New York, U.S., November 28, 2018. REUTERS/Carlo Allegri/File Photo

However, the Federal Reserve still plans to release its "Beige Book," a summary of the state of U.S. business across the central bank’s 12 regional districts, as scheduled on Wednesday.

Powell was slated to discuss the economic outlook with the panel, but Wednesday was declared a national day of mourning following the death of former President George H.W. Bush. No new date for the rescheduled testimony has been announced.

The Fed said its Washington offices will be closed on Wednesday, but that its payments systems will operate normally.

(Reporting by Pete Schroeder; Editing by Chizu Nomiyama and Dan Grebler)

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