Powell to Skip Testimony to Congress, Says Steil

Republican Representative Bryan Steil of Wisconsin said that Fed Chair Jerome Powell is expected to skip testifying to congress about economic developments, after Powell became the subject of a DOJ investigation this weekend. Steil called the decision a ‘missed opportunity’ for the American people. The congressman, who serves as the Chairman of the House Administration Committee, also said that his legislation aimed at regulating lawmakers ability to trade stocks passed out of committee earlier today and will head to the floor. The bill has faced criticism from lawmakers like Alexandria Ocasio-Cortez, who says that the limitation do not go far enough. (Source: Bloomberg)