Janet Yellen to testify before Joint Economic Committee Dec 3

[WASHINGTON] Federal Reserve chair Janet Yellen will speak before the Joint Economic Committee of Congress on Dec 3, making the appearance at a pivotal time for monetary policy and the US economy.

The Fed chair addresses the JEC on the economic outlook annually and will speak during the morning, said committee spokeswoman Kristine Michalson. Her comments will come just 12 days before the two-day policy-setting Federal Open Market Committee starts in Washington.

The FOMC also gathers next week, though it's widely expected to leave rates unchanged near zero at the gathering, which is not followed by a press conference. The December meeting is followed by a press conference and investors place a higher probability that the Fed will raise rates that month for the first time since 2006.

Last year, Ms Yellen spoke before the Joint Economic Committee in May, and used the forum to discuss labour market conditions, the inflation outlook, policy and financial stability.

BLOOMBERG