TUESDAY | Fannie/Freddie regulator Mel Watt will answer questions from the House Financial Services Committee about his plans for supporting the mortgage market. House Budget Committee hears from CBO head. U.S. Trade Representative Michael Froman testifies before Senate Finance and House Ways and Means committees. Federal Open Market Committee begins two-day closed meeting to decide interest rate policy.

 

WEDNESDAY | Senate Homeland Security Committee plans hearing on protecting against cyberattacks. Fed announces interest rate decision, followed by statement. CBO director testifies before Senate Budget panel.

 

FRIDAY | Senate Finance Committee chair Hatch speaks on trade. Fed Governor Tarullo speaks on "Advancing Macroprudential Policy Objects."

 

AT THE AGENCIES

 

Monday, Jan. 26 (12pm ET)

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Closed meeting for review and determination of the advance and discount rates to be charged by the Federal Reserve Banks. Read more.

 

Tuesday, Jan. 27 (9am ET)

FEDERAL RESERVE BOARD OF GOVERNORS | The Federal Open Market Committee ("FOMC") holds a two-day closed meeting. The FOMC is the policy-making arm of the Federal Reserve. Read more.

 

Wednesday, Jan 28 (2pm ET)

FOMC announces decision on U.S. interest rates. Read more.

 

Wednesday thru Friday, Jan. 28-30

MUNICIPAL SECURITIES RULEMAKING BOARD | The MSRB board of directors will meet to discuss rulemaking topics such as professional qualification of municipal advisors, gift-giving by municipal advisors, and pricing reference information. Read more.

 

Thursday, Jan. 29 (2pm ET)

SECURITIES AND EXCHANGE COMMISSION | Closed meeting to discuss institution and settlement of an administrative proceeding. Read more.

 

Friday, Jan. 30 (1245pm ET)

ARLINGTON, Virginia | Federal Reserve Board Governor Daniel Tarullo delivers remarks on "Advancing Macroprudential Policy Objectives" at the 4th Annual Conference on "Evaluating Macroprudential Tools: Complementarities and Conflicts" hosted by the Treasury Department's Office of Financial Research ("OFR") and Financial Stability Oversight Council ("FSOC"). The speech comes as the Fed ramps up its internal efforts toward building up its own financial stability operation, a controversial subject given the complexity of trying to deflate an asset bubble before it pops. It also comes as the Fed has increasingly voiced concern that the FSOC will be unable to move quickly or effectively to act ahead of the next crisis. Read more.

 

ON THE HILL

 

Tuesday, Jan. 27 (10am ET)

SENATE COMMITTEE ON FINANCE | Full committee hearing. United States Trade Representative ("USTR") Michael Froman will testify on the 2015 U.S. trade policy agenda. Watch for committee chairman Orrin Hatch to introduce legislation that would let the president negotiate international agreements subject to up-or-down congressional votes without amendment. Read more.

 

Tuesday, Jan. 27 (10am ET)

HOUSE FINANCIAL SERVICES COMMITTEE | Full committee hearing on "Sustainable Housing Finance: An Update from the Director of the Federal Housing Finance Agency." FHFA director Mel Watt will testify. Read more.

 

Tuesday, Jan 27 (1030am ET)

HOUSE COMMITTEE ON THE BUDGET | Hearing on "The Congressional Budget Office's Budget and Economic Outlook." CBO director Douglas Elmendorf will testify. Read more.

 

Tuesday, Jan. 27 (1pm ET)

HOUSE COMMITTEE ON THE JUDICIARY | Markup of H.R. ___. the "Small Business Regulatory Flexibility Improvements Act of 2015." Read more.

 

Tuesday, Jan. 27 (2pm ET)

HOUSE COMMITTEE ON WAYS AND MEANS | Full committee hearing on "U.S. Trade Policy Agenda." United States Trade Representative ("USTR") Michael Froman will testify. Read more.

 

Wednesday, Jan. 28 (930am ET)

SENATE HEALTH, EDUCATION, LABOR AND PENSIONS COMMITTEE | Full committee meeting to adopt committee rules and subcommittee assignments; and to markup S. 192, a bill to reauthorize the "Older Americans Act of 2015." Read more.

 

Wednesday, Jan. 28 (10am ET)

SENATE BUDGET COMMITTEE | Full committee hearing on budget and economic outlook. CBO director Douglas Elmendorf will testify. Read more.

 

Wednesday, Jan. 28 (230pm ET)

SENATE HOMELAND SECURITY AND GOVERNMENTAL AFFAIRS COMMITTEE | Full committee hearing on "Protecting American from Cyber Attacks: The Importance of Information Sharing." Read more.

 

AROUND THE GLOBE

 

Monday, Jan. 26

LONDON | BBA's Capital Markets Union Forum: Speakers include ESMA chairman Steven Maijoor; Olivier Guersent, Deputy Director General, European Commission, Directorate General Financial Stability, Financial Services and Capital Markets Union; and Dr. Kay Swinburne, member of the European Parliament's Economic and Monetary Affairs Committee. Read more.

 

Monday, Jan. 26 (9am ET)

BRUSSELS | Eurogroup Meeting: The Eurogroup will welcome the Lithuanian minister as the newest member of the Eurogroup. The Eurogroup ministers will exchange views on the state of play in Greece. They will also be informed of main findings of the interim mission of the International Monetary Fund ("IMF") Article IV consultation with the euro area. The ministers will also discuss the European Commission's assessment of the updated draft budgetary plan submitted by the recently formed Latvian government. Read more.

 

Tuesday, Jan. 27

BRUSSELS | Meeting of Economic and Financial Affairs Council (ECOFIN). ECB Vice-President Vitor Constancio to attend. ECOFON is responsible for EU policy in three main areas: economic policy, taxation issues, and the regulation of financial services. Read more.

 

Tuesday, Jan. 27

LONDON | ISDA's EMIR Compliance Update Conference: Topics include what you need to know about the working group on margin requirements, EMIR protocols and documentation initiatives overview and the compliance timeline. Read more.

 

Wednesday & Thursday, Jan. 28-29

LUXEMBOURG | 19th Global Securities Finance Summit 2015: Speakers include Organization for Economic Cooperation and Development ("OECD") chief economist and head of the economics department Catherine Mann, and European Central Bank ("ECB") executive board member Peter Praet. Read more.

 

OTHER EVENTS

 

Monday, Jan. 26 (930-1145am ET)

WASHINGTON DC & VIA WEBCAST  | The Brookings Institution's Tax Policy Center and the Hutchins Center on Fiscal and Monetary Policy at Brookings hold a conference on "Dynamic Scoring: Now What?" featuring economists from the Joint Committee on Taxation and former CBO director. Read more.

 

Tuesday, Jan. 27 (730am ET)

WASHINGTON DC | 2015 Middle-Market Public Policy Summit: Topics include how policymakers view the middle market and the impact of middle-market private capital investment on the U.S. economy. Read more.