Politics

Questions for Yellen as she heads to Congress

Federal Reserve Chairwoman Janet Yellen will appear before the House Financial Services Committee Wednesday, sure to face tough questions from Republican lawmakers.

While Yellen is required by law to testify before Congress four times a year, Wednesday's appearance is different. She is testifying in her role as the top regulatory official at the central bank, not to deliver a report on monetary policy.

The Fed is supposed to have a vice chairman for oversight who testifies on regulatory affairs, but President Obama has not nominated anyone for that position since it was created by the 2010 Dodd-Frank law. In the absence of an official vice chairman, Yellen will testify.

Her appearance comes at a moment of intensified scrutiny for the central bank, as it approaches a decision about tightening monetary policy and as Congress debates changes to financial laws. Here are some of the questions she can expect:

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