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Search resuls for: "Augustus Hawkins"


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Samuel Corum/Getty ImagesFederal Reserve Chair Jerome Powell is set to testify Wednesday for the first of two three-hour-plus grillings by Congress on the state of the economy. But is there a particular law or rule that compels him to spend six hours answering lawmakers' (often aggressive) questions, a task that some may consider arduous? Officially known as the Full Employment and Balanced Growth Act of 1978, the Humphrey-Hawkins act was first proposed by Sen. Hubert Humphrey and Rep. Augustus Hawkins. The act also requires that the Fed head report on and deliver a monetary report to Congress semiannually. While it's not clear how much he enjoys delivering six hours of testimony, he did say earlier this year that his idea of fun was "a really great inflation report."
Persons: Samuel Corum, Jerome Powell, Humphrey, Hawkins, Sen, Hubert Humphrey, Augustus Hawkins, Powell, it's Organizations: U.S, Capitol, Getty, Federal Reserve, Rep, Fed Locations: Washington , DC
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