Fed’s Bernanke to Testify on Monetary Policy on July 17-18

Federal Reserve Chairman Ben S. Bernanke will deliver his semi-annual monetary policy report to Congress on July 17 and 18.

Bernanke will appear on the first day before the House Financial Services Committee at 10 a.m., David Popp, communications director for the committee, said in an e-mail. He will appear the next day before the Senate Banking Committee, a Senate aide confirmed.

The testimony, known as Humphrey-Hawkins for the legislation that established the semi-annual appearances, gives Bernanke an opportunity to present an update to Congress on the central bank’s $85 billion-a-month quantitative easing program.

Fed policy makers next meet in Washington on June 18-19. The central bank will release a statement and economic forecasts at 2 p.m. on the final day of the meeting, and Bernanke will hold a press conference at 2:30 p.m.

To contact the reporter on this story: Joshua Zumbrun in Washington at jzumbrun@bloomberg.net;

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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