Testifies before Senate Banking Committee

Yellen offers insight into the economy and central bank policy to members of the Senate Banking Committee. Yellen also defends the Fed’s independence as she faces questions from lawmakers interested in limiting the authority of the central bank. Sen. Jeb Hensarling, R-Texas, chairman of the committee, suggests that weekly discussions between Yellen and Treasury Secretary Jack Lew be publicly disclosed. Yellen opposes the suggestion.

I’m not willing to report, on a weekly basis, private conversations.