Yellen Senate Testimony Postponed

Updated from 4:52 p.m. ET with comment from Sen. Sherrod Brown, a member of the Senate Banking Committee

NEW YORK (TheStreet) -- The Senate postponed Federal Reserve Chairwoman Janet Yellen's Thursday testimony, and she likely won't appear until sometime after next week.

The Senate Banking Committee postponed Yellen's appearance after the Senate announced a recess ahead of a massive snow storm expected to slam Washington.

The postponement was a result of the Senate recess, which likely was due to the weather, and the Yellen testimony has not been rescheduled, a spokesperson told TheStreet. The spokesperson said that the Fed chair probably won't appear until after next week because the Senate will be on recess.

Yellen testified to the House Financial Services Committee on Tuesday, affirming continuity in the transition to her Fed leadership from former Chairman Ben Bernanke's policies.

After Yellen's first testimony to the House as Fed chair, Sen. Sherrod Brown (D., Ohio) -- a member of the Senate Banking Committee -- told TheStreet in an emailed statement that he was encouraged by her remarks.

"[E]specially as it relates to the Fed's mandate to maximize employment," Brown said. "Her observations on stagnant wages, a lack of sector-based job training, and growing income inequality show a Fed focused on policies that will help grow the middle class and help put more hardworking Americans back to work."

-- Written by Joe Deaux in New York.

>Contact by Email.

If you liked this article you might like

Monster Beverage Stock Soars as Coca-Cola Opens Refreshing Partnership

Gold Pares Losses as Ukraine Says Its Troops Attack Russian Convoy

Cisco Stock Biggest Dow Loser as Company Cuts 6,000 Jobs

Gold Demand Slumps as Increasing Prices Slow Asian Demand

Gold Demand Shrinks a Year After the Infamous Market Collapse